Gulfport Energy falls as block trade priced

Gulfport Energy

12/12/2023 14:07

** Shares of Gulfport Energy  GPOR.N  down 2.7% at $128.50
before the bell on secondary offering
    ** Natgas E&P late Mon announced pricing of block trade of
653,464 shares sold by holders Silver Point Capital and MacKay
Shields for ~$84.2 mln
    ** Offering priced at $128.90, 2.4% discount to stock's Mon
close, per sources
    ** JP Morgan sole bookrunner
    ** Hedge fund Silver Point remains top GPOR holder with ~33%
stake, while MacKay Shields, division of New York Life
Insurance, owns ~6% stake, per the SEC filing
    ** Gulfport has ~18.2 mln shares outstanding, accounting for
$40 mln stock repurchase from both entities last week
    ** GPOR shares up 79% YTD through Mon

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))