HOUSTON, Sept. 24, 2018 (GLOBE NEWSWIRE) — Rosehill Resources Inc. (NASDAQ: ROSE, ROSEW, ROSEU) (the “Company”) announced today that it has commenced an underwritten public offering (the “Offering”) of 6,150,000 shares of its Class A common stock (the “Class A Common Stock”). All of the shares of Class A Common Stock in the Offering will be sold by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 922,500 shares of Class A Common Stock at the public offering price, less the underwriting discount.
The Company intends to contribute all of the net proceeds of the Offering to Rosehill Operating Company, LLC (“Rosehill Operating”) in exchange for a number of units in Rosehill Operating equal to the number of shares of Class A Common Stock issued by the Company in the Offering. Rosehill Operating intends to use the net proceeds to finance its development plan and for general corporate purposes, including to fund potential future acquisitions.
Citigroup, SunTrust Robinson Humphrey and J.P. Morgan are acting as joint book-running managers for the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
A registration statement relating to the Offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Offering is being made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended. Copies of the preliminary prospectus relating to the Offering may be obtained, when available, from:
|Citigroup Global Markets Inc.
c/o Broadridge Financial Services
1155 Long Island Avenue,
Edgewood, NY 11717
Telephone: (800) 831-9146
J.P. Morgan Securities LLC
|SunTrust Robinson Humphrey, Inc.
3333 Peachtree Road NE, 9th Floor
Atlanta, GA 30326
Attention: Prospectus Department
Telephone: (404) 926-5744
Fax: (404) 926-5464
About Rosehill Resources Inc.
Rosehill Resources Inc. is an oil and gas exploration company with producing assets in Texas and New Mexico with its investment activity focused in the Delaware Basin portion of the Permian Basin. The Company’s strategy for growth includes the organic development of its two core acreage areas in the Northern Delaware Basin and the Southern Delaware Basin, as well as focused acquisitions in the Delaware Basin.