Rex Energy is offering 8,800,000 shares and certain selling stockholders are offering the remaining 800,000 shares. The transaction is expected to close on or about July 30, 2007. The selling stockholders have also granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,440,000 shares.
The Company expects to receive net proceeds from the offering of $89.2 million. The Company plans to use the net proceeds to repay debt.
KeyBanc Capital Markets Inc. is acting as lead manager for the offering. RBC Capital Markets, A.G. Edwards, Johnson Rice & Company L.L.C. and Pickering Energy Partners are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state. This offering of common stock will be made only by means of a prospectus, copies of which may be obtained from KeyBanc Capital Markets Inc., Attn: Prospectus Delivery Department, 800 Superior Avenue, 17th Floor, Cleveland, OH 44114, phone: 216-563-2018.
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