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Why Antero Resources Corp (AR) Stock Is Lower Today

Stocks in this article: AR

NEW YORK (TheStreet) -- Antero Resources Corp (AR) stock is slipping Wednesday after pricing its upsized underwritten public offering of 12 million shares of common stock at $62 per share. 

By late morning, shares had slid 1.4% to $62.24.

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The shares to be sold are currently held by Antero Resources Investment and Antero Resources Corp will receive no proceeds from the sale of the common stock. The selling stockholder has granted underwriters a 30-day option to purchase up to an additional 1.8 million shares. 

The offering is expected to close on May 19, subject to customary closing conditions. 

Barclays, Citigroup, Credit Suisse and JPMorgan are acting as joint book-running managers for the offering.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

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