Diversified Energy prices secondary offering at $13.75 per share

Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) announced the pricing of a secondary offering by certain selling stockholders of 5,713,353 ordinary shares at $13.75 per share. The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 857,002 shares at the same price.

The selling stockholders include funds managed by an affiliate of EIG, an entity managed by FS/EIG Advisor, LLC, and entities managed by FS/KKR Advisor, LLC. Diversified will not offer any shares in the transaction and will not receive proceeds from the sale. The offering is expected to settle on September 18, 2025.

The Diversified Employee Benefit Trust indicated interest in purchasing 750,000 shares from the underwriters at the public offering price for total consideration of $10,312,500. The board confirmed it considers this transaction fair and reasonable for shareholders after receiving advice from sponsor Stifel Nicolaus Europe Limited.

The shares being purchased by the Employee Benefit Trust were originally issued as consideration for the acquisition of Maverick Natural Resources, LLC, which closed on March 14, 2025. EIG is an associate of Diversified director Randy Wade, making this a related party transaction under UK listing rules.

Mizuho and Raymond James are serving as joint book-running managers and representatives of the underwriters, with Citigroup also acting as a joint book-running manager for the offering.

A shelf registration statement relating to the securities resale was filed with the Securities and Exchange Commission on May 16, 2025, and became effective upon filing, according to the company's statement.

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