Shares of SilverBow Resources, Inc. (SBOW) are falling more than 8% Tuesday morning after the energy company upsized secondary share offering to 2.2 million shares from 1.7 million shares.
The shares are being sold by an affiliate of Strategic Value Partners, LLC, and SilverBow will not receive any proceeds from the offering, which is expected to close by December 14.
SBOW is at $27.30 currently. It has traded in the range of $19.13 - $43.95 in the last 1 year.
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