Athlon Energy Prices IPO At High End Of Range

(RTTNews) - Athlon Energy Inc. said Thursday that it has priced its initial public offering of about 15.79 million shares of common stock at $20.00 per share, which is at the high end of the previously estimated range of $18.00 to $20.00 per share.

The shares are expected to begin trading on the New York Stock Exchange on August 2 under the ticker symbol "ATHL." In addition, the selling stockholders named in the registration statement have granted the underwriters a 30-day option to purchase up to an additional about 2.37 million shares of the company's common stock at the initial public offering price.

The offering is expected to close on August 7.

Athlon plans to use the net proceeds from the offering to repay indebtedness, provide liquidity for use in its drilling program and for general corporate purposes, including potential acquisitions. The company will not receive any proceeds from the sale of the shares by the selling stockholders pursuant to the underwriters' option to purchase additional shares of common stock.