Talos Energy drops as Apollo, Riverstone to shed 6 mln shares

Riverstone Holdings

08/11/2021 22:07

** Talos Energy  TALO.N  shares fall nearly 4% in extended
trading after co announces secondary offering
    ** O&G  producer says Apollo Global Management  APO.N  and
Riverstone Holdings to sell 6 mln shares  urn:newsml:reuters.com:*:nPn7KbPsHa
    ** Sources cite sole underwriter JP Morgan marketing
offering in range of $12.30-$12.50, up to 5.7% discount to
stock's $13.05 close on Mon
    ** Riverstone is #1 TALO holder with ~22.6 mln shares for
~28% stake, followed by Apollo with ~13.6 mln shares for ~17%
stake, per Refinitiv data
    ** TALO shares have gained 58% YTD, but are well off their
2021 peak of $18.93 hit on Jun 23

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))