Parsley Energy Inc. - 2016-05-24

Priced an upsized public offering of about 8.25 million Class A common shares. Originally, 8 million shares were offered, and the offering was upsized by 250,000 shares. Underwriters received a month-long option to purchase about 1.23 million additional shares. The company and consolidated subsidiaries Parsley Energy LLC and Parsley Finance Corp. will also privately offer $200 million in senior notes due 2024. Neither offering is conditioned on the fulfillment of the other. Part of the net proceeds from the notes offering, and part of the net proceeds from the common share offering, will fund the aggregate purchase price for the acquisition of mineral interests, associated surface rights and certain working interests in Pecos and Reeves counties, Texas. Credit Suisse Securities (USA) LLC is sole lead book-runner for the equity offering.