SilverBow Resources (SBOW) Announces 1.7M Share Secondary Offering

SilverBow Resources, Inc. (NYSE: SBOW) today announced that an affiliate of Strategic Value Partners, LLC (the “Selling Stockholder”) intends to offer for sale 1,700,000 shares of the Company’s common stock in an underwritten public offering (the “Offering”). The Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 255,000 shares.

The Offering consists entirely of secondary shares to be sold by the Selling Stockholder. The Selling Stockholder will receive all of the net proceeds from the Offering. SilverBow is not offering any shares of common stock in the Offering and will not receive any proceeds from the sale of shares in the Offering.

Citigroup and Mizuho are acting as joint book-running managers for the Offering. The underwriters may offer the shares from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to their right to reject any order in whole or in part.

The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which were filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); or Mizuho Securities USA LLC, Attention: U.S. ECM Desk, 1271 Avenue of the Americas, New York, NY 10020, by telephone at (212) 205-7602 or by email at [email protected].

This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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