Denver-based SM plans to sell 9.5 million common shares at $38.25 each for gross proceeds of $363.4 million and has granted underwriters the option to buy another 1.425 million shares.
The offering was boosted from the originally announced 8 million shares with 1.2 million reserved for underwriters.
SM is using the cash to pick up 4100 acres in the Midland sub-basin of the Permian for about $120 million.
Much
