DENVER, March 5, 2015
/PRNewswire/ -- Antero Resources Corporation (NYSE: AR)
("Antero" or the "Company") announced today the pricing of an
underwritten public offering of 13,100,000 shares of the Company's
common stock (the "Offering"), resulting in gross proceeds (before
underwriter's discounts and commissions and estimated offering
expenses) of approximately $485
million. The offering was upsized from the previously
announced offering of 11,500,000 shares of common stock. In
addition, the Company has granted the underwriter a 30-day option
to purchase up to an additional 1,900,000 shares of common stock.
The common stock is being sold in the Offering pursuant to an
effective registration statement on Form S-3 previously filed with
the Securities and Exchange Commission (the "Commission"). The
Offering is expected to close on March 10,
2015, subject to customary closing conditions. The
underwriter intends to offer the shares from time to time for sale
in one or more transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated
prices.
The Company expects to use the net proceeds of the offering
(including any proceeds from the exercise of the underwriter's
option to purchase additional shares) to repay a portion of the
outstanding borrowings under its credit facility.
Credit Suisse is acting as sole book-running manager for the
Offering. The Offering is being made only by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, copies of which, when available, may be obtained
from:
Credit
Suisse
c/o Prospectus
Department
One Madison Avenue,
Level B1
New York, New York
10010
newyork.prospectus@credit-suisse.com
Toll-Free: (800)
221-1037
|
You may also get these documents for free by visiting the
Commission's website at www.sec.gov. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described above, nor shall there be any sale of such
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Antero Resources is an independent natural gas and oil
company engaged in the acquisition, development and production of
unconventional liquids-rich natural gas properties located in
the Appalachian Basin in West
Virginia, Ohio and Pennsylvania.
This release includes "forward-looking statements".
Such forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond Antero's control.
All statements, other than historical facts included in this
release, are forward-looking statements. All forward-looking
statements speak only as of the date of this release. Although
Antero believes that the plans, intentions and expectations
reflected in or suggested by the forward-looking statements are
reasonable, there is no assurance that these plans, intentions or
expectations will be achieved. Therefore, actual outcomes and
results could materially differ from what is expressed, implied or
forecast in such statements.
Antero cautions you that these forward-looking statements are
subject to all of the risks and uncertainties, most of which are
difficult to predict and many of which are beyond the Company's
control, incident to the exploration for and development,
production, gathering and sale of natural gas, NGLs and oil. These
risks include, but are not limited to, commodity price volatility,
inflation, lack of availability of drilling and production
equipment and services, environmental risks, drilling and other
operating risks, regulatory changes, the uncertainty inherent in
estimating natural gas and oil reserves and in projecting future
rates of production, cash flow and access to capital, the timing of
development expenditures, and the other risks described under the
heading "Item 1A. Risk Factors" in Antero's Annual Report on Form
10-K for the year ended December 31, 2014.
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SOURCE Antero Resources Corporation