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Antero Resources Corp Prices Upsized Initial Public Offering


Wednesday, 9 Oct 2013 07:26pm EDT 

Antero Resources Corp announced the pricing of its initial public offering of 35,725,000 shares of its common stock at $44.00 per share. The shares are expected to begin trading on the New York Stock Exchange on October 10, 2013 under the ticker symbol "AR." The selling stockholder named in the registration statement has granted the underwriters a 30-day option to purchase up to an additional 3,409,091 shares of the Company's common stock held by the selling stockholder to cover over-allotments if the underwriters sell more than 35,725,000 shares of the Company's common stock. The offering is expected to close on October 16, 2013. The Company intends to use the net proceeds of approximately $1.5 billion to repay outstanding borrowings under its credit facility. The Company intends to use any proceeds received pursuant to any exercise by the underwriters of their option to purchase additional shares of the Company's common stock from the Company to repay the remaining borrowings outstanding under its credit facility and fund a portion of its drilling and development program. The Company will not receive any of the proceeds from the sale of shares of the Company's common stock by the selling stockholder pursuant to any exercise by the underwriters of their option to purchase additional shares of common stock from the selling stockholder. Barclays, Citigroup, J.P. Morgan, Credit Suisse, Jefferies and Wells Fargo Securities are acting as book running managers of the offering. 

Company Quote

57.79
-0.12 -0.21%
12:49pm EDT