Resolute Energy Corp. (REN) announced the closing of its previously announced registered underwritten public offering of 13.3 million shares of common stock.
The company said that certain selling stockholders also closed on the offering of an additional 5.4 million shares. All shares of common stock were sold to the public at an offering price of $8.00 per share.
The resulting net proceeds to the company, after deducting underwriting discounts and commissions, were approximately $101.8 million. The company intends to use its portion of the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.
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