Gulfport Upsizes Stock Offering to 9.5M Shares, Seeks $454M

An update to a story we brought you yesterday about Gulfport Energy. We told you that Gulfport is both floating 7.5 million shares of new stock and floating IOUs (senior notes) to raise money (see Gulfport Looks to Raise $600M+ with Notes & New Stock Offering). At the time Gulfport had not announced the price per share they were looking for and we theorized that if they got the current price of $49.15 they would haul in around $368 million from new stock sales. Gulfport updated the offering. It's now 9.5 million shares and Gulfport has announced they're looking for $47.75 per share. Consulting our handy calculator, that would generate $454 million...

---

To view this content, log into your member account. (Not a member? Join Today!)