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Magnolia Oil & Gas Prices Share Offering at $23.75 Apiece

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Magnolia Oil & Gas (MGY) priced its underwritten public offering of 46.3 million class A shares at $23.75 per share, the company said late Monday.

Underwriters have a 30-day option to purchase up to an additional 6.9 million shares, Magnolia Oil & Gas said.

The offering is expected to close on Wednesday, subject to customary closing conditions.

Net proceeds, together with proceeds from a concurrent senior notes offering, borrowings under its revolving credit facility and cash on hand will be used to fund the cash consideration for its acquisition of WildFire Intermediate.

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