Range Resources Prices 4.56 Mln Shares Offering - Quick Facts

(RTTNews) - Range Resources Corp. (RRC) said it has priced a public offering of 4.56 million common shares for total estimated gross proceeds before deducting underwriters' compensation and estimated expenses of around $400 million. Further, the underwriters were granted an option for 30 days to buy up to an additional 684,000 shares of the company. The offering may close on or about June 17, 2014.

The firm expects to use the net proceeds from the offering to fund the early redemption of its previously called 8% Senior Subordinated Notes and for general corporate purposes.

Both BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers.