Range Announces Common Stock Offering
Range Resources announced that it intends, subject to market conditions, to publicly offer 3.5 million shares of common stock through an underwritten offering. The underwriters for the offering will also have the option to purchase up 525,000 additional shares of common stock to cover any over-allotments. Range intends to use the net proceeds from the offering to pay down a portion of the outstanding balance of Range's senior credit facility. Such amounts may be reborrowed from time to time for general corporate purposes including, but not limited to, acreage acquisitions.
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