AUSTIN, Texas, May 23, 2016 /PRNewswire/ --Parsley Energy, Inc. (NYSE: PE) ("Parsley Energy" or the "Company") today announced that it has priced an underwritten, upsized public offering of 8,250,000 shares of Class A common stock for total gross proceeds (before underwriters' fees and estimated expenses) of approximately $203.0 million (the "Equity Offering"). The 8,250,000 share offering represents a 250,000 share upsize to the originally proposed 8,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 1,237,500 shares of Class A common stock from the Company. The Equity Offering is expected to close on May 27, 2016, subject to customary closing conditions.
Concurrently with the Equity Offering, Parsley Energy, LLC and Parsley Finance Corp., the Company's consolidated subsidiaries, intend to offer to qualified institutional buyers and non-U.S. persons outside of the U.S., in an offering exempt from registration under the Securities Act of 1933, as amended, $200.0 million aggregate principal amount of senior notes due 2024 (the "Concurrent Notes Offering"). The Company will not guarantee the senior notes. The Equity Offering is not conditioned on the consummation of the Concurrent Notes Offering, and the Concurrent Notes Offering is not conditioned on the consummation of the Equity Offering.
Together with a portion of the net proceeds from the Concurrent Notes Offering, the...