DALLAS, March 17, 2015 /PRNewswire/ -- RSP Permian,
Inc. ("RSP" or the "Company") (NYSE: RSPP) today announced that it
has priced 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 of the Company's stockholders at $25.80 per share. Total gross proceeds (before
the underwriter's discounts and commissions and estimated offering
expenses) will be approximately $129.0
million to the Company and approximately $103.2 million to the selling stockholders. The
Company and the selling stockholders have granted the underwriter a
30-day option to purchase up to 750,000 and 600,000 additional
shares of the Company's common stock, respectively. The offering is
expected to close on March 23, 2015,
subject to customary closing conditions.
The Company intends to use the net proceeds from this offering,
including the proceeds from any exercise of the option to purchase
additional shares of common stock, 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 Capital Inc. is acting as the sole underwriter of the
offering.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the "SEC") on March 17,
2015. The offering will 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.