Antero Resources Launches IPO; Expects To Price IPO In $38 - $42 Per Share Range

(RTTNews) - Oil and natural gas company Antero Resources Corp. announced the commencement of its initial public offering of 30.00 million shares of its common stock, at an anticipated initial public offering price between $38.00 and $42.00 per share. The company said it has been approved to list its common shares on the New York Stock Exchange under the symbol "AR," subject to official notice of issuance.

The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional 3.75 million shares of the company's common stock held by the selling stockholder to cover over-allotments if the underwriters sell more than 30.00 million shares of the company's common stock.

The company also expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of the Company's common stock held by the Company to cover over-allotments if the underwriters sell more than 33.75 million shares of common stock.

Any exercise by the underwriters of their options to purchase additional shares of common stock will be made initially with respect to the 3.75 million additional shares of common stock to be sold by the selling stockholder and then with respect to the 750,000 additional shares of common stock to be sold by the Company.

Antero Resources was founded in 2002 by Chairman and Chief Executive Officer Paul Rady, and President and Chief Financial Officer Glen Warren. Private equity firms Warburg Pincus, Yorktown Energy Partners and Lehman Brothers Merchant Banking Group initially invested in Antero in 2003. The consortium led a $1 billion equity investment in the company in 2007.