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. 

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE

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

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE

If you liked this article you might like

Jana Partners Values an EQT Separation at $4.5 billion

EQT Stock Upgraded by BMO Capital Following Rice Energy Acquisition

There's Up to 30% Upside in These Airline Stocks

Rice Energy and EQT: Cramer's Top Takeaways

These Stock Winners Refuse to Die: Cramer's 'Mad Money' Recap (Monday 6/19/17)