Sanchez Energy Prices Stock Offering

(RTTNews) - Sanchez Energy Corp. (SN) said Thursday that it has priced an underwritten public offering of 5 million shares of the company's common stock at a price of $35.25 per share.

The company plans to use the net proceeds from the offering to partially fund its pending Catarina acquisition. If the pending Catarina acquisition is not consummated, the company plans to use the net proceeds from the offering for general corporate purposes, including working capital and to repay borrowings under its credit facility.

A.R. Sanchez, Jr., Sanchez Oil & Gas Corp. and TAEP Security Trust have granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the same price. The company will not receive any proceeds from the sale of stock by the selling stockholders.g is expected to close on or about June 18.