HOUSTON, May 11, 2016 /PRNewswire/ — Gastar Exploration Inc. (“Gastar”) (NYSE MKT: GST) announced today that it intends to offer, subject to market and other conditions, 40,000,000 shares of its common stock, par value $0.001 per share, in a public offering pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). In connection with the offering, Gastar intends to grant the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of common stock. Gastar intends to use the net proceeds from the offering for general corporate purposes, including funding an expanded drilling program on its STACK Play acreage in Oklahoma.
Seaport Global Securities LLC and Johnson Rice & Company L.L.C. are acting as joint book-running managers for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
A copy of the prospectus supplement and accompanying base prospectus relating to these securities may be obtained, when available, from: