DENVER, Nov. 09, 2017 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ:CDEV) today announced the pricing of an underwritten public offering of an aggregate of 25,000,000 shares of Class A common stock by Riverstone VI Centennial QB Holdings, L.P. (14,705,306 shares), REL US Centennial Holdings, LLC (4,346,633 shares), Riverstone Non-ECI USRPI AIV, L.P. (1,068,037 shares), Silver Run Sponsor, LLC (1,385,441 shares) and Celero Energy Company, LP (3,494,583 shares) (collectively, the “selling stockholders”). The selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 3,750,000 additional shares of Class A common stock. The offering is expected to close on November 9, 2017, subject to customary closing conditions. Centennial will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.
Goldman Sachs & Co. LLC is acting as the underwriter for the offering and proposes to offer the shares of Class A common stock to the public at a price of $20.20 per share. The offering of these securities will be made only by means of a prospectus supplement. A copy of the prospectus supplement and the accompanying base prospectuses may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: 212-902-9316, e-mail: email@example.com.
This offering is made pursuant to effective shelf registration statements and prospectuses filed by Centennial with the Securities and Exchange Commission (the “SEC”). This press release shall 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 without registration or qualification under the securities laws of any such state or jurisdiction.
About Centennial Resource Development, Inc.
Centennial Resource Development, Inc. is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets and operations, which are held and conducted through Centennial Resource Production, LLC, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.