Diversified Energy Prices Underwritten Public Offering Of 8.50 Mln Ordinary Shares At $14.50/shr

(RTTNews) - Diversified Energy Company PLC (DEC) announced the pricing of its underwritten public offering of 8.50 million ordinary shares at a public offering price of $14.50 per share for total gross proceeds of approximately $123.3 million.

The Offering is expected to settle on February 21, 2025, subject to customary closing conditions. In addition, Diversified has granted the underwriters a 30-day option to purchase up to an additional 850,000 ordinary shares at the public offering price, less underwriting discount.

The company plans to use the net proceeds from the Offering to repay a portion of the debt expected to be incurred by the Company in connection with the proposed acquisition of Maverick Natural Resources, LLC, as announced on January 27, 2025. In the event that the Acquisition does not close, the Company intends to use the net proceeds from the Offering to repay debt and for general corporate purposes.