Shareholders Selling $123.5M of Gulfport Stock, Co. Buying $25M

Gulfport Energy issued a press release yesterday to announce that several unnamed stockholders, referred to as "certain stockholders," are offering to sell 1.3 million company shares for $95 per share--for a total value of $123.5 million. If the market supports it, there may be an option to buy an additional 195,000 shares (another $18.5 million). Gulfport said it doesn't benefit from the sale, but the company plans to purchase $25 million of the shares on offer as a buyback.

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