HOUSTON--(EON: Enhanced Online News)--WildHorse Resource Development Corporation (NYSE: WRD) (the “Company”) announced today the closing of its initial public offering of 27,500,000 shares of common stock at $15.00 per share.
The offering raised net proceeds to the Company of approximately $391.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering, along with borrowings from the Company’s revolving credit facility, to (i) fund the remaining portion of the Burleson North acquisition purchase price for $344.8 million, (ii) repay in full and terminate the existing revolving credit facilities of its subsidiaries and (iii) repay in full all notes payable by one of its subsidiaries to its prior owners.
Barclays, BofA Merrill Lynch, BMO Capital Markets, Citigroup and Wells Fargo Securities acted as book-running managers for the offering. Copies of the written prospectus for the offering may be obtained from:
|Barclays||BofA Merrill Lynch|
|c/o Broadridge Financial Solutions||Attn: Prospectus Department|
|1155 Long Island Avenue||
200 North College Street, 3rd Floor
|Edgewood, NY 11717||Charlotte, NC 28255-0001|
|BMO Capital Markets Corp.||
Citigroup Global Markets Inc.
|Attn: Equity Syndicate Department||
c/o Broadridge Financial Solutions
3 Times Square, 25th Floor
1155 Long Island Avenue
|New York, NY 10036||
Edgewood, NY 11717
|Wells Fargo Securities|
|Attention: Equity Syndicate Department|
|375 Park Avenue|
|New York, NY, 10152|
|Telephone: 1 (800) 326-5897|
About WildHorse Resource Development
WildHorse Resource Development Corporation is an independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas and NGL properties primarily in the Eagle Ford Shale in East Texas and the Over-Pressured Cotton Valley in North Louisiana.
A registration statement relating to these securities has been filed with, and been declared effective by, the Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction
Cautionary Statement Concerning Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.
The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the preliminary prospectus filed with the SEC in connection with this offering. The risk factors and other factors noted in the preliminary prospectus could cause the Company’s actual results to differ materially from those contained in any forward-looking statement.