Each one in plain English, with the numbers worked through for a shareholder.
4 Feb 2014asset acquisition disposition▲ GoodMajor
On January 29, 2014 the company closed its IPO of 50,000,000 shares at $21.00 and completed its corporate reorganisation, leaving 127,523,810 shares outstanding. It also bought Alpha Holdings' 50% of the Marcellus Joint Venture for $300 million ($100 million cash plus 9,523,810 shares), so it now owns that venture's interest outright. The credit facility was amended to raise the maximum commitment to $1.5 billion from $500 million and the borrowing base to $350 million from $200 million, with a lower interest rate. Stockholders and registration rights agreements give major holders (Rice Holdings, NGP, Alpha) board nomination and share-registration rights.
29 Jan 2014asset acquisition disposition▲ GoodMajor
The company (named Rice Energy Inc. in the filing) priced its stock offering on January 23, 2014: 44,000,000 shares at $21.00, of which 30,000,000 were sold by the company and 14,000,000 by selling stockholder NGP Rice Holdings, with Barclays as underwriters' representative. The company expected about $594.5 million in net proceeds, to repay its Marcellus joint venture and its own revolving credit borrowings, make a $100.0 million payment toward the Marcellus joint venture buy-in, and fund part of its capital spending. The underwriters partly exercised their option for 6,000,000 extra shares from the selling stockholder. Related agreements reorganise the pre-IPO entities into the listed company in exchange for common stock, and a 17,500,000-share incentive plan was adopted.
