Why Rice Energy (RICE) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Rice Energy Inc.  (RICE) are higher by 2.58% to $28.18 in mid-morning trading on Thursday, following the company’s announcement it priced its upsized public offering of over 11 million shares of its common stock, at $27.30 per share.

The independent natural gas and oil company is offering $7.5 million shares of common stock, and the selling stock holders named in the registration are offering 4.4 million shares of Rice Energy’s stock.

Underwriters were granted an additional 30-day option buy up to an additional 1.7 million shares. 

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Rice said approximately $196.3 million from the sale will be used to a portion of its 2014 capital budget.

RICE Chart RICE data by YCharts

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