Oasis Finalizes Initial Public Offering
Oasis has completed its initial public offering of 48,300,000 shares of its common stock at $14.00 per share. Oasis sold 30,370,000 shares of common stock in this offering, and OAS Holding, the selling stockholder, sold 17,930,000 shares of common stock, including 6,300,000 shares sold by the selling stockholder pursuant to the full exercise of the underwriters' over-allotment option.
Net proceeds received by Oasis from the offering were approximately $395.7 million after deducting underwriting discounts and estimated offering expenses. Oasis intends to use these net proceeds to repay all outstanding indebtedness under its revolving credit facility and to fund its exploration and development program. Oasis did not receive any proceeds from the sale of shares by the selling stockholder.