Core Viewpoint - Diversified Energy Company PLC has announced a public offering of 8,500,000 ordinary shares at a price of 123.3 million, with settlement expected on February 21, 2025 [1][3]. Offering Details - The offering price of 15.01 on February 19, 2025 [9]. - The company has granted underwriters a 30-day option to purchase an additional 850,000 shares at the public offering price [1]. Use of Proceeds - The net proceeds from the offering will primarily be used to repay a portion of the debt related to the proposed acquisition of Maverick Natural Resources, LLC, announced on January 27, 2025 [3][9]. - If the acquisition does not close, the proceeds will be used for debt repayment and general corporate purposes [3][9]. Underwriters and Management - Citigroup and Mizuho are acting as joint book-running managers and underwriters for the offering, with additional support from KeyBanc Capital Markets, Truist Securities, Jefferies, and Raymond James [2]. - The company has consulted with existing shareholders regarding the offering and adhered to pre-emption principles in the allocation process [16]. Regulatory Compliance - A shelf registration statement was filed with the U.S. Securities and Exchange Commission on February 11, 2025, and became effective upon filing [4]. - The company intends to publish a prospectus in connection with the admission of shares to the London Stock Exchange, expected to be effective on February 24, 2025 [6].
Diversified Energy Announces Pricing of Offering of Ordinary Shares