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Parsley Energy Prices Upsized Offering

The following excerpt is from the company's SEC filing.

of Class A Common Stock

AUSTIN, Texas, April 4, 2016(BUSINESS WIRE)Parsley Energy, Inc. (NYSE: PE) (Parsley Energy or the Company) today announced that it has priced an underwritten, upsized public offering of 18,250,000 shares of Class A common stock for total gross proceeds (before underwriters fees and estimated expenses) of approximately $390.6 million. The 18,250,000 share offering represents a 2,250,000 share upsize to the originally proposed 16,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 2,737,500 shares of Class A common stock from the Company. The offering is expected to close on April 8, 2016, subject to customary closing conditions.

Parsley Energy intends to use the net proceeds of the offering to fund the aggregate purchase price for the acquisitions of oil and gas interests in the Southern Delaware and Midland Basins (the Acquisitions) the Company announced today. The remaining net proceeds will be used to fund a portion of the Companys capital program and for general corporate purposes, including future acquisitions. The offering is not conditioned on the consummation of the Acquisitions.

Morgan Stanley & Co. LLC and Raymond James & Associates, Inc. are acting as joint bookrunners for the offering.

The offering is being made pursuant to an effective shelf registration statement, which has been filed with the...


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