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Gulfport Energy Corp. announced Sept. 9 the results and expiration on its previous cash tender offer on the outstanding 8.0% senior notes due 2026.
As of the offer’s expiration date at the close of business on Sept. 9, Gulfport received tenders for an aggregate principal amount of approximately $524 million, or 95%, of the notes.
These amounts exclude the $620,500 aggregate principal amount of the notes that remain subject to the guaranteed delivery procedures, Gulfport said.
Gulfport will pay the purchase price for the notes validly tendered prior to the expiration date or pursuant to the guaranteed delivery on Sept. 13, the settlement date.
Gulfport said the purchase price for the notes is $1,023.35 for each $1,000 principal amount of notes validly tendered and accepted for purchase pursuant to the offer.
The purchase price also includes accrued and unpaid interest on the notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the settlement date.
If notes are held in denominations smaller than $1,000, or held other than in integral multiples of $1,000, then such holder will receive a prorated amount of the purchase price per $1,000 in principal amount of notes, Gulfport said.
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