Halcon Resources Prices Public Offering Of 38.00 Mln Shares At $5.10/shr

(RTTNews) - Halcon Resources Corp. (HK) announced Thursday that it has priced an underwritten public offering of 38.00 million shares of its common stock at a price of $5.10 per share.

The company said it has granted the underwriters a 30-day option to purchase up to an additional 5.70 million shares of common stock. The offering is expected to settle and close on August 13, 2013, subject to customary closing conditions.

The company noted that it plans to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its senior secured revolving credit facility, which has been, and will continue to be, drawn upon to partially fund acquisitions of both leasehold and producing properties in core areas.