Eclipse Resources Completes New Stock Offering, Raises $123M

Eclipse_logo_hiresSeems this is the week to report on stock offerings. Last week Eclipse Resources, like Southwestern Energy, announced a new stock offering. And like Southwestern (see today’s companion story), Eclipse completed the offering yesterday. Eclipse, a pure play driller focused on the Marcellus/Utica, had planned to sell up to 43 million shares hoping to raise $131 million (see Eclipse Resources Ramps Up Drilling; Floats More Stock to Raise $). How did they do? They sold all of the original 37 million shares they wanted to sell. The underwriters still have 30 days to buy an additional 5.6 million shares. Eclipse received, after expenses, $123 million for the 37 million shares, or $3.32 per share…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment