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Ohio Utica Shale

Rice Energy completes initial public stock offering

By Bob Downing Published: January 31, 2014

From Pernnsylvania-based Rice Energy on Wednesday:

CANONSBURG, Pa., Jan. 29, 2014 /PRNewswire/ -- Rice Energy Inc. (the "Company") today announced the completion of its initial public offering of 50,000,000 shares of its common stock at a price to the public of $21.00 per share, including 6,000,000 shares pursuant to the partial exercise by the underwriters of their option to purchase additional common stock from the selling stockholder named in the registration statement. The Company sold 30,000,000 shares of its common stock, and the selling stockholder sold 20,000,000 shares of the Company's common stock.

(Logo: http://photos.prnewswire.com/prnh/20140123/DA51701LOGO)

The net proceeds received by the Company from the sale of 30,000,000 shares of its common stock were approximately $594.5 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds to repay all outstanding borrowings under the revolving credit facility of its Marcellus joint venture, to make a $100.0 million payment in partial consideration of its Marcellus joint venture buy-in, to repay all outstanding borrowings under its revolving credit facility and to fund a portion of its capital expenditure plan. The Company will not receive any of the proceeds from the sale of shares of the Company's common stock by the selling stockholder.

Barclays, Citigroup, Goldman, Sachs & Co., Wells Fargo Securities, BMO Capital Markets and RBC Capital Markets acted as joint 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

Citigroup

Goldman, Sachs & Co.

c/o Broadridge Financial Solutions

c/o Broadridge Financial Solutions

Attn: Prospectus Department

1155 Long Island Avenue

1155 Long Island Avenue

200 West Street

Edgewood, NY 11717

Edgewood, NY 11717

New York, NY 10282

barclaysprospectus@broadridge.com

batprospectusdept@citi.com

prospectus-ny@ny.emal.gs.com

Toll-Free: 1-888-603-5847

Toll-Free: 1-800-831-9146

Telephone: 1-866-471-2526

     

Wells Fargo Securities

BMO Capital Markets

RBC Capital Markets

c/o Equity Syndicate Department

Attn: Syndicate Desk

Attn: Prospectus Department

375 Park Avenue

3 Times Square, 28th Floor

Three World Financial Center

New York, NY 10152

New York, NY 10036

200 Vesey Street, 8th Floor

cmclientsupport@wellsfargo.com

bmoprospectus@bmo.com

New York, NY 10281

Toll-Free: 1-800-326-5897

Toll-Free: 1-800-414-3627

Toll-Free: 1-877-822-4089

 

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.

Rice Energy Inc. is an independent natural gas and oil company engaged in the acquisition, exploration and development of natural gas and oil properties in the Appalachian Basin.

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ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

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Energy In Depth, a trade group.

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Buckeye Forest Council.

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Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

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Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

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Allegheny Front, environmental public radio for Western Pennsylvania.