Diversified Energy (DEC) said Wednesday that it has launched an underwritten public offering of up to 8.5 million of its ordinary shares in the US.
The company said it will give the underwriters the option to buy up to an additional 850,000 of its ordinary shares.
Diversified Energy said the net proceeds will be used to repay a portion of the debt expected to be incurred as a result of its proposed acquisition of Maverick Natural Resources, as well as for general corporate purposes.
Shares of the company were down more than 3% in recent Wednesday premarket activity.
Price: 16.17, Change: -0.56, Percent Change: -3.4
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