DALLAS, Jan. 23, 2014 /PRNewswire/ -- RSP Permian, Inc.
(the "Company") today announced the completion of its
initial public offering of 23,000,000 shares of its common stock at
a price to the public of $19.50 per
share, including the exercise in full by the underwriters of their
option to purchase an additional 3,000,000 shares of common stock
from certain of the selling stockholders named in the registration
statement. The Company sold 9,225,000 shares of its common stock,
and the selling stockholders sold 13,775,000 shares of the
Company's common stock.
Net proceeds received by the Company from the sale of 9,225,000
shares of its common stock were approximately $166.0 million, after deducting underwriting
discounts and commissions and estimated offering expenses payable
by the Company. The Company intends to use the net proceeds to
fully repay its term loan, make cash payments to certain existing
investors as partial consideration for the properties contributed
to the Company by such persons, pay cash bonuses to certain of the
Company's employees in connection with the successful completion of
this offering, reduce outstanding borrowings under its revolving
credit facility and fund a portion of its capital expenditure plan.
The Company will not receive any of the proceeds from the sale of
shares of the Company's common stock by the selling
stockholders.
Barclays, J.P. Morgan, Tudor, Pickering, Holt & Co.,
Raymond James, RBC Capital Markets
and UBS Investment Bank acted as joint book-running managers for
this offering.
A registration statement on Form S-1 relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission. This offering will be made only
by means of a written prospectus. A copy of the prospectus meeting
the requirements of Section 10 of the Securities Act of 1933 may be
obtained, when available, from:
Barclays
|
J.P.
Morgan
|
Tudor, Pickering,
Holt & Co.
|
c/o Broadridge
Financial Solutions
|
c/o Broadridge
Financial
|
Attn: Prospectus
Department
|
1155 Long Island
Avenue
|
Solutions
|
Heritage
Plaza
|
Edgewood, NY
11717
|
1155 Long Island
Avenue
|
1111 Bagby, Suite
5100
|
barclaysprospectus@broadridge.com
|
Edgewood, NY
11717
|
Houston, TX
77002
|
Toll-Free:
1-888-603-5847
|
Toll-Free:
1-866-803-9204
|
Telephone: (713)
333-7100
|
|
|
|
|
|
|
Raymond
James
|
RBC Capital
Markets
|
UBS Investment
Bank
|
Attn: Prospectus
Department
|
Attn: Prospectus
Department
|
Attn: Prospectus
Department
|
880 Carillon
Parkway
|
Three World Financial
Center
|
299 Park
Avenue
|
St. Petersburg, FL
33716
|
200 Vesey Street, 8th
Floor
|
New York, NY
10171
|
prospectus@raymondjames.com
|
New York, NY
10281
|
Toll-Free:
1-888-827-7275
|
Toll-Free:
1-800-248-8863
|
Toll-Free:
1-877-822-4089
|
|
|
|
US
2258918v.1
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This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the
securities described in the registration statement or the
prospectus in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
RSP Permian, Inc. is an independent oil and natural gas
company focused on the acquisition, exploration, development and
production of unconventional oil and associated liquids-rich
natural gas reserves in the Permian Basin of West Texas.
This release includes "forward-looking statements" within the
meaning of federal securities laws. Such forward-looking statements
are subject to a number of risks and uncertainties, many of which
are beyond RSP Permian, Inc.'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 the Company 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.
We caution 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 our control,
incident to the exploration for and development, production,
gathering and sale of oil and natural gas. 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 and the timing of development
expenditures.
SOURCE RSP Permian, Inc.