Actionable news
0
All posts from Actionable news
Actionable news in RICE: RICE ENERGY Inc,

Rice Energy Announces Public Offering Of Common Stock

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

CANONSBURG, Pa., April 12, 2016 /PRNewswire/ -

Rice Energy Inc.

(NYSE: RICE) (Rice Energy) today announced the commencement of an underwritten public offering of 23,500,000 shares of its common stock. Rice Energy is offering 20,000,000 shares of its common stock, and the selling stockholder named in the registration statement, NGP Rice Holdings LLC (an affiliate of Natural Gas Partners), is offering 3,500,000 shares of Rice Energys common stock. The selling stockholder expects to grant the underwriter a 30-day option to purchase up to an additional 3,525,000 shares of Rice Energys common stock.

Rice Energy intends to use a portion of the net proceeds from this offering to acquire Marcellus and Utica assets in central Greene County, Pennsylvania from Alpha Natural Resources, Inc. for $200 million (the Alpha Acquisition) and the remainder for general corporate purposes. If the Alpha Acquisition is not consummated, Rice Energy intends to use the net proceeds for general corporate purposes, which may include the funding of a portion of its 2017 capital budget. Rice Energy will not receive any of the proceeds from the sale of shares of its common stock held by the selling stockholder.

Goldman, Sachs & Co. is acting as sole book-running manager of the offering.

The offering is being made only by means of a prospectus supplement and accompanying prospectus. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from the offices of:

Attn: Prospectus Department

200 West...


More