RSP Permian (RSPP) Prices Larger 22M Share Common Stock Offering for Proceeds of ~$875M

October 14, 2016 5:50 AM EDT

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RSP Permian, Inc. (NYSE: RSPP) announced that it has priced an underwritten public offering of 22,000,000 shares of its common stock at $39.75 per share. The offering was upsized to 22,000,000 shares of common stock from the original offering size of 20,000,000 shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of the Company's common stock. Total gross proceeds (before the underwriters' discounts and commissions and estimated offering expenses) will be approximately $874.5 million to the Company. The offering is expected to close on October 18, 2016, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to fund a portion of the previously announced acquisition of Silver Hill Energy Partners, LLC and Silver Hill E&P II, LLC (the "Acquisition"). The offering is not conditioned on the consummation of the Acquisition, and if the Acquisition does not occur, the net proceeds will be used for general corporate purposes, which may include funding a portion of the Company's 2017 capital budget.

Barclays Capital Inc. and RBC Capital Markets, LLC are acting as lead joint book-running managers for the offering.

The offering is made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on March 17, 2015. The offering will be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to:

Barclays Capital Inc.c/o Broadridge Financial Solutions1155 Long Island Ave.Edgewood, New York, 11717Telephone: 1 (888) 603-5847Email:

RBC Capital Markets, LLC Attn: Equity Syndicate200 Vesey Street, 8th FloorNew York, New York 10281-8098Telephone: 877-822-4089Email:

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