Lonestar Resources to pay down revolver via stock offering proceeds

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Lonestar Resources US, Inc. plans to repay some borrowings under its revolving credit facility with some proceeds of an offering of 8.75 million shares of class A voting common stock with a greenshoe for 1,312,500 additional shares, according to a press release.

Lonestar also plans to use some of the proceeds to repay Seaport Global Securities LLC, which has provided the company with gap financing, and to redeem a portion of its outstanding second-lien notes.

Any remaining proceeds will be used for general corporate purposes.

Seaport Global Securities LLC and Johnson Rice & Co. LLC are serving as joint book-running managers for the offering.

Lonestar is an oil and gas company based in Fort Worth.

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