Eclipse Resources prices IPO

Eclipse Resources Corp.

Eclipse Resources Corp. has priced its initial public offering of 30,300,000 shares of common stock at $27.00 per share. The shares are expected to begin trading on the New York Stock Exchange on June 20 under the ticker symbol “ECR.”

The company is offering 21,500,000 shares of its common stock and the selling stockholders named in the registration statement are offering 8,800,000 shares of the company’s common stock.

The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 4,545,000 shares of the company’s common stock. The offering is expected to close on June 25.

Eclipse Resources intends to use the net proceeds of $545.2 million (after deducting underwriting discounts and commissions and the estimated offering expenses payable by the company) to repay all outstanding borrowings under its revolving credit facility and to fund a portion of its capital expenditure plan. The company will not receive any of the proceeds from the sale of shares of its common stock by the selling stockholders.

Citigroup Global Markets Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. LLC are acting 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 are also acting as book-running managers for the offering.

Eclipse Resources is an independent exploration and production company engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin, including the Utica and Marcellus shale plays.


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