HOUSTON–(BUSINESS WIRE)–WildHorse Resource Development Corporation (NYSE: WRD) (the “Company”) announced today the closing of its initial public offering of 27,500,000 shares of common stock at $15.00 per share.
The offering raised net proceeds to the Company of approximately $391.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering, along with borrowings from the Company’s revolving credit facility, to (i) fund the remaining portion of the Burleson North acquisition purchase price for $344.8 million, (ii) repay in full and terminate the existing revolving credit facilities of its subsidiaries and (iii) repay in full all notes payable by one of its subsidiaries to its prior owners.
Barclays, BofA Merrill Lynch, BMO Capital Markets, Citigroup and Wells Fargo Securities acted as book-running managers for the offering. Copies of the written prospectus for the offering may be obtained from:
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| Barclays | BofA Merrill Lynch |
| c/o Broadridge Financial Solutions | Attn: Prospectus Department |
| 1155 Long Island Avenue |
200 North College Street, 3rd Floor |
| Edgewood, NY 11717 | Charlotte, NC 28255-0001 |
| (888) 603-5847 | |
| BMO Capital Markets Corp. |
Citigroup Global Markets Inc. |
| Attn: Equity Syndicate Department |
c/o Broadridge Financial Solutions |
|
3 Times Square, 25th Floor |
1155 Long Island Avenue |
| New York, NY 10036 |