Diversified Energy Announces Proposed Secondary Offering of Ordinary Shares

Diversified Energy Company PLC, an independent energy company focused on natural gas and liquids production, transportation, marketing, and well retirement, has announced a proposed secondary offering of ordinary shares. The offering, which will be made available to qualified investors in the United States and the European Economic Area, is intended to raise funds for the Selling Stockholders, a group of funds or entities managed by affiliates of EIG and FS/EIG Advisor, LLC, and FS/KKR Advisor, LLC.

The proposed offering will consist of 5,713,353 ordinary shares, with an option to purchase an additional 857,002 shares at the public offering price. The Diversified Employee Benefit Trust has also indicated an interest in purchasing up to 750,000 ordinary shares at the public offering price. The Selling Stockholders will receive all of the net proceeds from the offering, while Diversified Energy will not receive any proceeds.

The joint book-running managers for the proposed offering are Mizuho, Raymond James, and Citigroup. A shelf registration statement relating to the resale of these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and is available for access on the SEC's website.

Key Takeaways:

• The proposed secondary offering will consist of 5,713,353 ordinary shares, with an option to purchase an additional 857,002 shares.
• The Diversified Employee Benefit Trust has indicated an interest in purchasing up to 750,000 ordinary shares at the public offering price.
• The Selling Stockholders will receive all of the net proceeds from the offering, while Diversified Energy will not receive any proceeds.
• The joint book-running managers for the proposed offering are Mizuho, Raymond James, and Citigroup.
• A shelf registration statement relating to the resale of these securities has been filed with the SEC and is available on the SEC's website.

Statistics:

• 5,713,353 ordinary shares will be sold in the proposed secondary offering.
• 857,002 additional ordinary shares may be purchased by the underwriters.
• The Diversified Employee Benefit Trust has expressed interest in purchasing up to 750,000 ordinary shares.
• The Selling Stockholders will receive all of the net proceeds from the offering.
• The proposed offering is intended to raise funds for the Selling Stockholders.

Sources:

• GlobeNewswire, "Diversified Energy Announces Proposed Secondary Offering of Ordinary Shares"
• Diversified Energy Company PLC press release, "Diversified Energy Announces Proposed Secondary Offering of Ordinary Shares"
• SEC registration statement, shelf registration statement relating to the resale of securities