Eclipse Resources Corp. has completed its initial public offering of 30,300,000 shares of its common stock at a price to the public of $27.00 per share. It sold 21,500,000 shares of its common stock and the selling stockholders named in the registration statement sold 8,800,000 shares of the company’s common stock.
The net proceeds received from the sale of 21,500,000 shares of its common stock were approximately $545.2 million (after deducting underwriting discounts and commissions and the estimated offering expenses payable by the Company). The company intends to use the net proceeds to repay all outstanding borrowings under its revolving credit facility and to fund a portion of its capital expenditure plan. It will not receive any proceeds from the sale of shares of the company’s common stock by the selling stockholders.
Citigroup Global Markets Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. LLC acted as joint lead book-running managers for the offering. Barclays Capital Inc., BMO Capital Markets Corp., Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., and RBC Capital Markets LLC also acted as book-running managers for the offering.