April 15, 2016 - 4:15 PM EDT
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Rice Energy Announces Closing of Public Offering of Common Stock

CANONSBURG, Pa., April 15, 2016 /PRNewswire/ -- Rice Energy Inc. (NYSE: RICE) ("Rice Energy") today announced the completion of an underwritten public offering of 29,858,891 shares of its common stock at a price to the public of $16.35 per share. Rice Energy sold 20,000,000 shares of its common stock, and the selling stockholder named in the registration statement, NGP Rice Holdings LLC (an affiliate of Natural Gas Partners), sold 9,858,891 shares of Rice Energy's common stock. The selling stockholder has granted the underwriter a 30-day option to purchase up to an additional 4,478,834 shares of Rice Energy's common stock.

Rice Energy received $312 million of net proceeds, after deducting underwriting discounts, commissions and estimated offering expenses. Rice Energy intends to use a portion of the net proceeds from this offering to acquire Marcellus and Utica assets in central Greene County, Pennsylvania from Alpha Natural Resources, Inc. for $200 million (the "Alpha Acquisition") and the remainder for general corporate purposes. If the Alpha Acquisition is not consummated, Rice Energy intends to use the net proceeds for general corporate purposes, which may include funding a portion of its 2017 capital budget. Rice Energy will not receive any of the proceeds from the sale of shares of its common stock held by the selling stockholder.

Goldman, Sachs & Co. acted as sole book-running manager of the offering.

The offering was made by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from the offices of:

Goldman, Sachs & Co. 
Attn: Prospectus Department 
200 West Street 
New York, NY 10282 
Email: [email protected]  
Telephone: (866) 471-2526

An electronic copy of the prospectus supplement and accompanying prospectus may also be obtained at no charge at the Securities and Exchange Commission's ("SEC") website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Rice Energy

Rice Energy Inc. is an independent natural gas and oil company engaged in the acquisition, exploration and development of natural gas and oil properties in the Appalachian Basin.

Forward-Looking Statements

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than historical facts included or incorporated herein that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as the completion, timing, size, proceeds and the use of proceeds of the offering, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although we believe that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Furthermore, the offering and Alpha Acquisition may not be completed as described or at all. Information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by us will be realized, or even if realized, that they will have the expected consequences to or effects on us, our business or operations. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

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SOURCE Rice Energy Inc.


Source: PR Newswire (April 15, 2016 - 4:15 PM EDT)

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