Eclipse Resources, a natural gas-focused E&P operating in the Appalachian Basin, raised $818 million by offering 30.3 million shares (29% insider) at $27, the low end of its $27-$30 range. At its offer price, the company commands a market cap of $4.3 billion and an enterprise value of $4.2 billion.
Eclipse Resources will list on the NYSE under the symbol ECR. Citi, Goldman Sachs, Morgan Stanley, Barclays, BMO Capital Markets, Deutsche Bank, KeyBanc Capital Markets and RBC Capital Markets all acted as joint bookrunners on the deal.
