Diversified Energy (DEC) said late Wednesday it priced an underwritten public offering of 8.5 million ordinary shares at $14.50 per share for gross proceeds of about $123.3 million.
The company granted the underwriters a 30-day option to buy up to an additional 850,000 shares. The offering is expected to settle on Friday.
The company said it plans to use the net proceeds to repay a portion of the debt in connection with its proposed acquisition of Maverick Natural Resources. If the acquisition does not close, the company will use the net proceeds to repay other debt and for general corporate purposes.
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