Parsley Energy prices upsized offering of Class A common stock

Parsley Energy, Inc. (NYSE: PE) has announced that it has priced an underwritten, upsized public offering of 7,250,000 shares of Class A common stock for total gross proceeds (before underwriters’ fees and estimated expenses) of approximately $243.2 million (the Equity Offering). The 7,250,000 million share offering represents a 250,000 share upsize to the originally proposed 7,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 1,087,500 shares of Class A common stock from the company.

The Equity Offering is expected to close on August 19, 2016, subject to customary closing conditions.

Concurrently with the Equity Offering, Parsley Energy, LLC and Parsley Finance Corp., Parsley Energy’s consolidated subsidiaries, intend to offer to qualified institutional buyers and non-U.S. persons outside of the U.S., in an offering exempt from registration under the Securities Act of 1933, as amended, an additional $200.0 million aggregate principal amount of their 6.250% senior notes due 2024 (the Concurrent Notes Offering). The company does not guarantee the senior notes. The Equity Offering is not conditioned on the consummation of the Concurrent Notes Offering, and the Concurrent Notes Offering is not conditioned on the consummation of the Equity Offering.

Read Also: