Gulfport Looks to Raise $600M+ with Notes & New Stock Offering

In addition to Gulfport’s big news yesterday that they are paying $12,500 per acre for leases in eastern Ohio (see today’s companion story), Gulfport also announced yesterday they are whole hog into the cash-raising business. The company says they’re raising more cash to help pay the $300 million it’s taking them to buy the Ohio acreage–plus have some left over to pay down current debt. Yesterday, in two separate press releases (see below), Gulfport said they are a) floating 7.5 million new shares of stock, and b) floating $300 million of new senior notes (IOUs). The price of Antero’s stock this morning is trading around $49.15 per share. If they get that price for the 7.5 million shares, it would raise something north of $368 million for the company…

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