The selling stockholder is giving the underwriters a 30-day option to buy up to an additional 3.8 million shares to cover any excess demand. Antero plans to give the underwriters a 30-day option to buy up to an additional 750,000 shares if the option given by the selling stockholder is fully exercised.
Antero won't receive any proceeds from shares sold by the selling stockholder. The Denver company said in a regulatory filing that it expects to receive approximately $1.14 billion in net proceeds, after underwriting discounts and commissions and estimated offering expenses. It plans to use the proceeds to pay back outstanding borrowings under its credit facility.
Antero is expected to list on the New York Stock Exchange under the "AR" ticker symbol.
