Antero Resources Corporation Prices Upsized Initial Public Offering

DENVER, Oct. 9, 2013 /PRNewswire/ -- Antero Resources Corporation (the "Company") today announced the pricing of its initial public offering of 35,725,000 shares of its common stock at $44.00 per share. The shares are expected to begin trading on the New York Stock Exchange on October 10, 2013 under the ticker symbol "AR." The selling stockholder named in the registration statement has granted the underwriters a 30-day option to purchase up to an additional 3,409,091 shares of the Company's common stock held by the selling stockholder to cover over-allotments if the underwriters sell more than 35,725,000 shares of the Company's common stock.  The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,949,659 shares of the Company's common stock held by the Company to cover over-allotments if the underwriters sell more than 39,134,091 shares of common stock. Any exercise by the underwriters of their options to purchase additional shares of common stock will be made initially with respect to the 3,409,091 additional shares of common stock to be sold by the selling stockholder and then with respect to the 1,949,659 additional shares of common stock to be sold by the Company.  The offering is expected to close on October 16, 2013, subject to customary closing conditions.

The Company intends to use the net proceeds of approximately $1.5 billion to repay outstanding borrowings under its credit facility. The Company intends to use any proceeds received pursuant to any exercise by the underwriters of their option to purchase additional shares of the Company's common stock from the Company to repay the remaining borrowings outstanding under its credit facility and fund a portion of its drilling and development program. The Company will not receive any of the proceeds from the sale of shares of the Company's common stock by the selling stockholder pursuant to any exercise by the underwriters of their option to purchase additional shares of common stock from the selling stockholder.

Barclays, Citigroup, J.P. Morgan, Credit Suisse, Jefferies and Wells Fargo Securities are acting as book running managers of the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933, may be obtained, when available, from:

Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

barclaysprospectus@broadridge.com 

Toll-Free: (888) 603-5847

Citigroup

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

batprospectusdept@citi.com

Toll-Free: (800) 831-9146

J.P. Morgan

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Toll-Free: (866) 803-9204




Credit Suisse

c/o Prospectus Department

One Madison Avenue, Level B1

New York, New York 10010

newyork.prospectus@credit-suisse.com

Toll-Free: (800) 221-1037

Jefferies

c/o Equity Syndicate Prospectus Department

520 Madison Avenue

12th Floor

New York, New York 10022

Prospectus_Department@Jefferies.com

Toll-Free: (877) 547-6340

Wells Fargo Securities

c/o Equity Syndicate Department

375 Park Avenue

New York, New York 10152

cmclientsupport@wellsfargo.com

Toll-Free: (800) 326-5897

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Antero Resources Corporation is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.

This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Antero Resources Corporation's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas and oil. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, and the timing of development expenditures.

SOURCE Antero Resources Corporation



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