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Matador Resources Company Announces Exercise Of Over-Allotment Option

Stocks in this article: MTDR

DALLAS, March 2, 2012  /PRNewswire/ -- Matador Resources Company (NYSE: MTDR) announced today that the underwriters of its recently completed initial public offering of common stock have exercised their over-allotment option to purchase an additional 1,550,000 shares of Matador's common stock at the public offering price of $12.00 per share, less underwriting discount.  542,500 of the over-allotment shares are being sold by Matador and 1,007,500 of the over-allotment shares are being sold by certain named selling shareholders.  The sale of these over-allotment shares is expected to close on March 7, 2012, subject to customary closing conditions. 

Upon the closing of the sale of the over-allotment shares, Matador will have sold a total of 12,209,167 shares in its initial public offering, resulting in aggregate net proceeds to Matador of approximately $133.6 million, after deducting underwriting discounts and commissions and estimated offering expenses.  Matador intends to use its additional net proceeds from the over-allotment exercise to fund a portion of its 2012 capital expenditure budget.  Matador will not receive any proceeds from the sale of over-allotment shares by the selling shareholders.

RBC Capital Markets and Citigroup acted as joint book-running managers.  Jefferies, Howard Weil Incorporated, Stifel Nicolaus Weisel, Simmons & Company International, Stephens Inc. and Comerica Securities acted as co-managers for the offering.

The offering was made only by means of a prospectus.  Copies of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from the offices of:

RBC Capital MarketsAttn: Prospectus Department3 World Financial Center200 Vesey Street, 8th Floor New York, New York 10281Telephone: (877) 822-4089

CitigroupAttn: Prospectus DepartmentBrooklyn Army Terminal140 58th Street, 8th Floor Brooklyn, New York 11220E-mail: batprospectusdept@citi.comTelephone: (800) 831-9146

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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