Akin Gump Advises Gulfport Energy in Pricing of Upsized $371.2 Million Common Stock Offering

Wednesday, April 6, 2016 - 00:05

Gulfport Energy Corporation has priced an underwritten public offering of 14,700,000 shares of its common stock at a price to the public of $25.25 per share, resulting in gross proceeds of $371.2 million. The 14,700,000 share offering represents a 700,000 share upsize to the originally proposed 14,000,000 share offering. Akin Gump advised Gulfport in the matter.

The underwriters have a 30-day option to purchase up to an additional 2,205,000 shares from Gulfport at the public offering price per share (less the underwriting discount). The offering is expected to close on March 15, 2016, subject to customary closing conditions.

Seth Molay, a partner in Akin Gump’s corporate practice, led the team advising Gulfport. He was joined by senior counsel Irina Maistrenko and associate Katie Dinett, both of the corporate practice, and tax partnerAlison Chen.