Concho Prices Upsized Offering Of 7.7 Mln Shares For Gross Proceeds Of $712 Mln

(RTTNews) - Concho Resources Inc. (CXO) announced that it has priced an upsized public offering of 7.70 million shares of its common stock for total gross proceeds, before underwriters' fees and estimated expenses, of approximately $712 million.

The underwriters have an option for 30 days to purchase up to an additional 1,155,000 shares of common stock from the Company.

The company expects to use the proceeds from the offering to repay all outstanding borrowings under the Company's credit facility, which were used in part to finance recent acquisitions, and for general corporate purposes, including funding potential future acquisitions.