Athlon Energy Inc. (NYSE:ATHL) ("Athlon") announced today the commencement of an underwritten public offering of 11,000,000 shares of common stock pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission ("SEC"). Athlon has also granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock. Athlon plans to use all of the net proceeds from this offering, together with net proceeds from a senior notes offering and/or borrowings under its credit agreement to fund the purchase price of pending acquisitions and for general corporate purposes. - updated 4/16 - Athlon Energy Inc. (NYSE:ATHL) ("Athlon") announced today the pricing of its underwritten public offering of 12,875,000 shares of common stock at $40.00 per share. Athlon has also granted the underwriters a 30-day option to purchase up to an additional 1,931,250 shares of Athlon's common stock at the public offering price. The offering was upsized to 12,875,000 shares from the original offering size of 11,000,000 shares. The offering is expected to close on April 23, 2014, subject to customary closing conditions. Athlon plans to use all of the net proceeds from this offering, together with net proceeds from a senior notes offering and/or borrowings under its credit agreement to fund the purchase price of pending acquisitions and for general corporate purposes.
Athlon Energy is an independent exploration and production company focused on the acquisition, development and exploitation of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The Permian Basin spans portions of Texas and New Mexico and is composed of three primary sub-basins: the Delaware Basin, the Central Basin Platform and the Midland Basin. All of Co.'s properties are located in the Midland Basin. Co.'s drilling activity is focused on the low-risk vertical development of stacked pay zones, including the Spraberry, Wolfcamp, Cline, Strawn, Atoka and Mississippian formations, which Co. refers to collectively as the Wolfberry play.
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