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    RSP Permian prices common stock offering

    RSP Permian Inc.

    RSP Permian Inc. (NYSE: RSPP) has priced an underwritten public offering of 10,000,000 shares of its common stock at $25.65 per share. The company is selling 4,166,667 shares of its common stock, and the selling stockholders named in the registration statement are selling 5,833,333 shares of the company's common stock.

    RSP Permian and certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of the company's common stock from the company and such selling stockholders, pro rata, if the underwriters sell more than 10,000,000 shares of the company's common stock to cover overallotments. The offering is expected to close on Aug. 12.

    The company intends to use the net proceeds of $102.3 million from this offering to repay amounts drawn under its revolving credit facility. It may at any time reborrow amounts repaid under its revolving credit facility, and expects to do so to fund a portion of several pending acquisitions in Glasscock County, Texas. The company will not receive any of the proceeds from the sale of shares of its common stock by the selling stockholders.

    Barclays, RBC Capital Markets, Raymond James, Tudor, Pickering, Holt & Co., and UBS Investment Bank are acting as joint book-running managers for this offering. 

     

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