PDC Energy Prices Offering Of 3.48 Mln Shares For Gross Proceeds Of $179 Mln

(RTTNews) - PDC Energy Inc. (PDCE) announced that it has priced a public offering of 3.48 million shares of its common stock for total gross proceeds, before underwriters' compensation and estimated expenses, of approximately $179 million.

The company said it has granted the underwriters an option for 30 days to purchase up to an additional 522,000 shares of the Company's common stock to cover over-allotments, if any. The offering is expected to close on or around March 23, 2015.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as the sole underwriters of the offering and have offered the shares at prevailing market prices or otherwise from time to time through the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise.