Matador Resources drops on stock offering

Matador Resources

26/03/2024 12:58

** Shares of Matador Resources  MTDR.N  down 3% at $66.50
premarket after overnight follow-on priced
    ** Oil and gas producer late Mon announced 5.25 mln shares
for total raise of $347.3 mln
    ** Offering priced at $66.15, 3.5% discount to stock's last
sale
    ** JP Morgan and BofA are jt bookrunners
    ** Co to use net offering proceeds for general purposes,
including acquisitions and debt paydown
    ** Matador has ~119.5 mln shares outstanding for ~$8.2 bln
market cap
    ** Through Mon, stock has risen ~21% YTD and is up roughly
54% over the past 12 months

 (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))