Shares of Southwestern Energy (SWN) - Get Report slipped on Wednesday following the announcement of a large stock offering. The announcement comes after the company refinanced its debt and saw its stock price pop. The Texas-based company offered 86 million new shares. Southwestern expects $1.1 billion in gross proceeds, which will be used to repay $350 million of a $750 million debt incurred in the fall of 2015.
This article was written by a staff member of TheStreet.