OKLAHOMA CITY, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) today announced the pricing of an underwritten public offering of 7,750,000 shares of its common stock at a price to the public of $38.00 per share. The underwriters have an option to purchase up to an additional 1,162,500 shares from Gulfport at the public offering price per share (less the underwriting discount) solely to cover over-allotments. Net proceeds to Gulfport from the sale of the 7,750,000 shares, after underwriting discounts and estimated expenses, will be approximately $282.3 million. Gulfport intends to use the net proceeds from this offering to fund its pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with Gulfport's 2013 capital development plan. The offering is expected to close on February 15, 2013, subject to customary closing conditions.
Gulfport Energy Corporation Announces Pricing Of Common Stock Offering
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