Akin Gump Advises Gulfport Energy in Equity and Debt Offerings

(Dallas) – Akin Gump advised Gulfport Energy Corporation in concurrent equity and senior note offerings that closed today.

In the equity offering, Gulfport completed an underwritten public offering of 9.5 million shares of its common stock at a price to the public of $47.75 per share. The underwriters also exercised their option to purchase 1.425 million shares of Gulfport’s common stock at the public offering price (less the underwriting discount). Net proceeds to Gulfport from the sale of these shares were approximately $501.9 million, after deducting underwriting discounts, commissions and estimated offering expenses.

Gulfport also conducted a debt offering of $350 million aggregate principal amount of its senior notes due 2023 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The notes were issued under a new indenture and rank equally with Gulfport’s previously issued senior notes and other senior indebtedness. Net proceeds to Gulfport from the sale of these notes were approximately $343.6 million.

Seth Molay, a partner in Akin Gump’s corporate practice, led the team advising Gulfport in both of these matters. Also on the team, all from the firm’s corporate practice, were partner Alan Laves, senior counsel Irina Maistrenko, counsel Matt Bivona and Ben Morgan and associate Lech Wilkiewicz.

 Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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