Rosetta Resources Inc. (ROSE) (the “Company”) announced today it intends to commence an underwritten public offering of 12,000,000 shares of the Company’s common stock. The Company intends to use the net proceeds from this offering to repay outstanding borrowings under the Company’s revolving credit facility and for general corporate purposes. The Company intends to grant the underwriter a 30-day option to purchase up to an additional 1,800,000 shares of common stock.
Morgan Stanley & Co. LLC is acting as the sole underwriter of the offering. The offering will be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained by contacting the underwriter at: Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.
When available, an electronic copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission’s website at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The offering is being made pursuant to an effective registration statement on Form S-3 previously filed by the Company with the Securities and Exchange Commission.
Rosetta Resources Inc. is an independent exploration and production company engaged in the acquisition and development of onshore unconventional resource plays in the United States of America. The Company owns positions in the Eagle Ford area in South Texas and in the Permian Basin in West Texas. The Company is based in Houston, Texas.
This press release includes forward-looking statements, which give the Company’s current expectations or forecasts of future events based on currently available information. Forward-looking statements are statements that are not historical facts, such as expectations regarding the closing of the equity offering. The assumptions of management and the future performance of the Company are subject to a wide range of business risks and uncertainties, and there is no assurance that these statements and projections will be met. Factors that could affect the Company’s business include those detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 and other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.