Vine Energy Inc., located in Plano, Texas, announced that it has launched an initial public offering of 18,750,000 shares of its Class A common stock at an anticipated initial offering price between $16.00 and $19.00 per share pursuant to a registration statement on Form S- filed with the U.S. Securities and Exchange Commission.
In addition, Vine intends to grant the underwriters a 30-day option to purchase up to an additional 2,812,500 shares of Vine’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. Vine intends to list on the New York Stock Exchange under the ticker symbol “VEI.”
Vine expects to use the net proceeds from the offering to repay in full and terminate certain existing credit facilities of its subsidiaries, with any remaining net proceeds to be used for general corporate purposes.
