FORT WORTH, Texas, Dec. 8, 2016 /PRNewswire/ — Lonestar Resources US Inc. (NASDAQ: LONE) (including its subsidiaries, “Lonestar,” “we,” “us,” “our” or the “Company”) announced today the commencement of an underwritten public offering of 8,750,000 shares of Class A Voting Common Stock (“Common Stock”). The underwriters will be granted a 30-day option to purchase from the Company up to 1,312,500 additional shares of Common Stock. Shares of the Common Stock trade on the NASDAQ Global Select Market under the ticker symbol “LONE.”
The Company intends to use the net proceeds from the offering, including any proceeds from any exercise of the underwriters’ option to purchase additional shares of Common Stock, to repay Seaport Global Securities LLC, who has provided the Company gap financing in connection with the previously announced Facilitation Agreement, reduce amounts drawn under its revolving credit facility and redeem a portion of our outstanding Second Lien Notes. Any remaining proceeds will be used for general corporate purposes.
Lonestar is an independent oil and natural gas company, focused on the development, production and acquisition of unconventional oil, natural gas liquids (“NGLs”) and natural gas properties in the Eagle Ford Shale in Texas, where we accumulated approximately 38,242 gross (33,951 net) acres in what we believe to be the formation’s crude oil and condensate windows, as of December 31, 2015. We also held a portfolio of conventional, long‐lived, crude oil‐weighted onshore assets in Texas and are conducting resource evaluation on approximately 44,084 gross (28,655 net) acres in the West Poplar area of the Bakken‐Three Forks trend in Roosevelt County, Montana, as of December 31, 2015.
Seaport Global Securities LLC and Johnson Rice & Company L.L.C. are serving as joint book-running managers for the offering, and Canaccord Genuity Inc., Cowen and Company, LLC, Northland Securities, Inc., Roth Capital Partners, LLC and Wunderlich Securities, Inc. are serving as co-managers for the offering. The offering of these securities will be made only by means of a prospectus. When available, a written prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from:
Seaport Global Securities LLC
Johnson Rice & Company L.L.C.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement (including the preliminary prospectus) is available on the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, 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.
When available, you may also obtain a copy of the final prospectus free of charge, at the SEC’s website at www.sec.gov under the Company’s name “Lonestar Resources US Inc.”