Rosehill Resources Inc. Announces Pricing of Class A Common Stock Offering
September 27 2018 - 8:15PM
Rosehill Resources Inc. (NASDAQ: ROSE, ROSEW, ROSEU) (the
“Company”) announced today the pricing of a public offering (the
“Offering”) of 6,150,000 shares of its Class A common stock (“Class
A Common Stock”) for aggregate gross proceeds of approximately
$37.5 million, before underwriting discounts and commissions and
estimated offering expenses, pursuant to a registration
statement on Form S-1 (the “Registration Statement”) filed
previously with the U.S. Securities and Exchange
Commission (“SEC”). In connection with the Offering, the Company
has granted the underwriters a 30-day option to purchase up to an
additional 922,500 shares of Class A Common Stock. The
Company anticipates the proceeds from the Offering (after
underwriting discounts and commissions and estimated offering
expenses) will be approximately $35.6 million, excluding any
exercise of the Company’s option to purchase additional shares of
Common Stock. 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.
A registration statement relating to the
Offering was declared effective by the Securities and Exchange
Commission on September 27, 2018. 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. A copy of the prospectus may be
obtained from:
Citigroup
Global Markets Inc.c/o Broadridge Financial Services1155 Long
Island Avenue,Edgewood, NY 11717Telephone: (800) 831-9146 J.P.
Morgan Securities LLCc/o Broadridge Financial Services1155 Long
Island Avenue,Edgewood, NY 11717Attention: Prospectus
DepartmentTelephone: (866) 803-9204Email:
prospectus-eq_fi@jpmchase.com |
SunTrust
Robinson Humphrey, Inc.3333 Peachtree Road NE, 9th FloorAtlanta, GA
30326Attention: Prospectus DepartmentTelephone: (404) 926-5744Fax:
(404) 926-5464Email: strh.prospectus.com |
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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.
Cautionary Statement Concerning
Forward-Looking Statements
Certain statements contained in this press
release constitute “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including statements regarding the
closing of the Offering and the Company’s use of proceeds from the
Offering, represent the Company’s expectations or beliefs
concerning future events, and it is possible that the results
described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of the Company’s control,
that could cause actual results to differ materially from the
results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of
the date on which it is made, and, except as required by law, the
Company does not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time,
and it is not possible for the Company to predict all such factors.
When considering these forward-looking statements, you should keep
in mind the risk factors and other cautionary statements in the
prospectus filed with the SEC in connection with the Offering. The
risk factors and other factors noted in the Company’s prospectus
could cause its actual results to differ materially from those
contained in any forward-looking statement.
Contact Information:
Gary C.
Hanna |
Craig
Owen |
John
Crain |
Interim
President and Chief Executive Officer |
Chief
Financial Officer |
Senior
Manager – Finance & Investor Relations |
281-675-3400 |
281-675-3400 |
281-675-3493 |
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