Gulfport Energy Corporation ( GPOR ) announced the pricing of an underwritten public offering of 11 million shares of its common stock at a price to the public of $38 per share.
Gulfport intends to use the net proceeds from this offering to fund its pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with Gulfport's 2013 capital development plan.
GPOR has fallen to $38.60, by 2%, in pre-market trade.
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