DALLAS, March 17, 2015 /PRNewswire/ -- RSP Permian,
Inc. ("RSP" or the "Company") (NYSE: RSPP) today announced the
commencement of an underwritten public offering of 5,000,000 shares
of its common stock by the Company and 4,000,000 shares of its
common stock by certain selling stockholders. The Company and
the selling stockholders have granted the underwriter a 30-day
option to purchase up to an additional 750,000 and 600,000 shares
of the Company's common stock, respectively, if the underwriters
sell more than 9,000,000 shares of the Company's common
stock.
The Company intends to use the net proceeds from this offering
to repay all outstanding borrowings under its revolving credit
facility and the balance for general corporate purposes, which may
include funding its drilling and development program and future
acquisitions. The Company will not receive any of the
proceeds from the sale of the shares of common stock by the selling
stockholders.
Barclays is acting as the sole underwriter for the
offering.
The offering is made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission (the
"SEC") earlier today. The offering may be made only by means of a
prospectus supplement and the accompanying prospectus, copies of
which may be obtained by sending a request to: Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave.,
Edgewood, NY 11717, by calling
toll-free (888) 603-5847 or by email at
barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these 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.
About RSP Permian, Inc.
RSP 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. The vast majority of RSP's acreage is located on
large, contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian
Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector
and Glasscock. The Company's
common stock is traded on the NYSE under the ticker symbol "RSPP."
For more information, visit www.rsppermian.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws. All statements, other than
historical facts, that address activities that RSP assumes, plans,
expects, believes, intends or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. Forward-looking statements are based on
management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of RSP. Information concerning these
risks and other factors can be found in RSP's filings with the SEC,
including its Annual Report on Form 10-K, which can be obtained
free of charge on the SEC's web site located at http://www.sec.gov.
RSP undertakes no obligation to update or revise any
forward-looking statement.
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SOURCE RSP Permian, Inc.