Current Report Filing (8-k)
May 11 2021 - 7:34AM
Edgar (US Regulatory)
0001433270
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0001433270
2021-05-10
2021-05-10
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 10, 2021
ANTERO RESOURCES CORPORATION
(Exact Name of Registrant as Specified in
its Charter)
Delaware
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001-36120
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80-0162034
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(State or Other Jurisdiction
of Incorporation)
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(Commission File
Number)
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(IRS Employer
Identification Number)
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1615 Wynkoop Street
Denver, Colorado 80202
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s
Telephone Number, including area code (303) 357-7310
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the
Act:
Title of each class
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Trading symbol(s)
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Name of each exchange on
which registered
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Common Stock, par value $0.01 Per Share
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AR
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On May 10, 2021, Antero Resources
Corporation (the “Company”) priced a registered direct offering (the “Share Offering”) of an aggregate of
approximately 11.6 million shares (the “Shares”) of its common stock, par value $0.01 per share, at a price of $11.01
per share to a limited number of holders (the “Holders”) of its 4.25% Convertible Senior Notes due 2026 (the
“Convertible Notes”). The Company plans to use the proceeds from the Share Offering and approximately $26 million of
borrowings under the Company’s revolving credit facility to repurchase from such Holders approximately $55.9 million aggregate
principal amount of its Convertible Notes in a privately negotiated transaction. The Share Offering is expected to close on
May 13, 2021, subject to customary closing conditions.
The offer and sale of the Shares are being made
pursuant to the Company’s Registration Statement on Form S-3, Registration No. 333-251910, filed by the Company with the
Securities and Exchange Commission under the Securities Act of 1933, as amended, and the prospectus supplement thereunder related to the
Share Offering.
This Current Report on Form 8-K is neither
an offer to sell nor a solicitation of an offer to buy the Convertible Notes, the Shares, or any other securities and shall not constitute
an offer to sell or a solicitation of an offer to buy, or a sale of, these securities in any jurisdiction in which such offer, solicitation
or sale is unlawful.
A copy of the opinion of Vinson & Elkins
L.L.P. relating to the legality of the issuance and sale of the Shares is attached as Exhibit 5.1 hereto.
This Current Report on Form 8-K includes
“forward-looking statements.” Such forward-looking statements are subject to a number of risks and uncertainties, many of
which are not under the Company’s control. All statements, except for statements of historical fact, made in this Current Report
regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements
regarding the closing of the Share Offering and the use of proceeds thereof, are forward-looking statements within the meaning of Section 27A
of the Securities Act and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the
date of this Current Report. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the
forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore,
actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required
by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the exploration
for and development, production, gathering and sale of natural gas, NGLs and oil, most of which are difficult to predict and many of which
are beyond the Company’s control. These risks include the risks described under the heading “Item 1A. Risk Factors”
in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and in its subsequently filed Quarterly
Report on Form 10-Q.
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ANTERO RESOURCES CORPORATION
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By
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/s/ Michael N. Kennedy
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Michael N. Kennedy
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Chief Financial Officer and Senior Vice President –Finance
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Dated: May 11, 2021
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