SunTrust Robinson Humphrey and Seaport Global are bookrunners
By Devika Patel
Knoxville, Tenn., June 16 – Earthstone Energy, Inc. said it priced a $47.25 million public offering of stock with a $7.09 million greenshoe. The deal was announced Wednesday.
The company will sell 4.5 million common shares at $10.50 per share. The price per share is a 12.28% discount to the June 15 closing share price of $11.97.
SunTrust Robinson Humphrey, Inc. and Seaport Global Securities LLC are the bookrunners.
Settlement is expected June 21.
Proceeds will be used to repay debt under the company’s revolving credit facility and for general corporate purposes.
Earthstone is an oil and gas company based in Denver.
| Issuer: | Earthstone Energy, Inc.
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| Issue: | Common stock
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| Amount: | $47.25 million
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| Greenshoe: | $7,087,500, or 675,000 shares
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| Shares: | 4.5 million
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| Price: | $10.50
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| Warrants: | No
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| Bookrunners: | SunTrust Robinson Humphrey, Inc. and Seaport Global Securities LLC
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| Announcement date: | June 15
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Stock symbol: | NYSE ESTE
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| Stock price: | $11.97 at close June 15
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| Market capitalization: | $182.37 million
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