Rosetta Resources Inc. Announces Pricing of Public Offering of Common Stock
March 10 2015 - 09:11AM
Rosetta Resources Inc. (Nasdaq:ROSE) (the "Company") announced
today that it has priced an underwritten public offering of
12,000,000 shares of the Company's common stock. The Company has
granted the underwriter a 30-day option to purchase up to an
additional 1,800,000 shares of common stock. The Company expects to
receive total gross proceeds (before underwriting discounts and
estimated offering expenses) of approximately $206.4 million, or
approximately $237.4 million if the underwriter exercises its
option to purchase additional shares of common stock in full.
The Company intends to use the net proceeds from this offering
to repay outstanding borrowings under the Company's revolving
credit facility and for general corporate purposes. The sale of our
common stock is expected to settle on March 13, 2015, subject to
the satisfaction of customary closing conditions.
Morgan Stanley & Co. LLC is acting as the sole underwriter
of the offering and proposes to offer the shares at prevailing
market prices or otherwise from time to time through the NASDAQ
Global Select Market, the over-the-counter market, negotiated
transactions or otherwise. The offering is being made only by means
of a prospectus supplement and accompanying base prospectus, copies
of which may be obtained by contacting the underwriter at: Morgan
Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY
10014, Attention: Prospectus Department.
When available, an electronic copy of the prospectus supplement
and accompanying base prospectus may also be obtained at no charge
at the Securities and Exchange Commission's website at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful. The offering is being made
pursuant to an effective registration statement on Form S-3
previously filed by the Company with the Securities and Exchange
Commission.
Rosetta Resources Inc. is an independent exploration and
production company engaged in the acquisition and development of
onshore unconventional resource plays in the United States of
America. The Company owns positions in the Eagle Ford area in South
Texas and in the Permian Basin in West Texas. The Company is based
in Houston, Texas.
[ROSE-F]
Forward-Looking Statements
This press release includes forward-looking statements, which
give the Company's current expectations or forecasts of future
events based on currently available information. Forward-looking
statements are statements that are not historical facts, such as
expectations regarding the closing of the equity offering. The
assumptions of management and the future performance of the Company
are subject to a wide range of business risks and uncertainties,
and there is no assurance that these statements and projections
will be met. Factors that could affect the Company's business
include those detailed in the Company's Annual Report on Form 10-K
for the year ended December 31, 2014 and other filings with the
Securities and Exchange Commission. If one or more of these risks
or uncertainties materialize (or the consequences of such a
development changes), or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those
forecasted or expected. The Company undertakes no obligation to
publicly update or revise any forward-looking statements except as
required by law.
CONTACT: Investor Contact:
Antoinette D. (Toni) Green
Vice President, Investor Relations & Strategy
Rosetta Resources Inc.
info@rosettaresources.com
Blake F. Holcomb
Investor Relations Manager
Rosetta Resources Inc.
info@rosettaresources.com
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