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BIRMINGHAM, Ala. - Diversified Energy Company PLC (LSE:DEC; NYSE:DEC) has announced the pricing of a secondary offering of 5,713,353 ordinary shares at $13.75 per share, according to a company press release.
The offering consists entirely of shares sold by certain funds or entities managed by an affiliate of EIG, an entity managed by FS/EIG Advisor, LLC, and entities managed by FS/KKR Advisor, LLC. The selling stockholders will receive all proceeds from the transaction, with Diversified not offering any shares or receiving any proceeds.
The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 857,002 ordinary shares at the public offering price, less underwriting discount. The offering is expected to settle on September 18, 2025, subject to customary closing conditions.
The Diversified Employee Benefit Trust has indicated interest in purchasing 750,000 shares from the underwriters at the public offering price, representing a total consideration of $10,312,500. This transaction constitutes a related party transaction as the initial sellers of these shares include entities managed by an affiliate of EIG, which is associated with Diversified director Randy Wade.
The company noted that these shares were originally issued as consideration for the acquisition of Maverick Natural Resources, LLC, which closed on March 14, 2025.
Mizuho and Raymond James are acting as joint book-running managers and representatives of the underwriters, with Citigroup also serving as a joint book-running manager for the offering.
Diversified Energy describes itself as a publicly traded energy company focused on acquiring and managing a portfolio of energy assets, including natural gas and liquids production, transport, marketing, and well retirement.
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