03:08 PM EST, 02/20/2025 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Diversified Energy ( DEC ) shares fell 4.4% in recent Thursday trading, a day after the company priced an underwritten public offering of 8.5 million shares at $14.50 apiece for gross proceeds of $123.3 million.

The company granted the underwriters a 30-day option to buy up to an additional 850,000 shares. The offering is expected to settle on Friday.

The company plans to use the net proceeds to repay a portion of the debt in connection with its proposed acquisition of Maverick Natural Resources. If the acquisition doesn't close, the proceeds will be used for other debt and general corporate purposes.

Price: 14.35, Change: -0.66, Percent Change: -4.40