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Press release from PR Newswire

Resolute Energy Corporation Announces Closing of Common Stock Offering

Tuesday, May 14, 2013

Resolute Energy Corporation Announces Closing of Common Stock Offering

10:10 EDT Tuesday, May 14, 2013

DENVER, May 14, 2013 /PRNewswire/ -- Resolute Energy Corporation (NYSE: REN) ("Resolute" or the "Company") announced today that it has closed its previously announced registered underwritten public offering of 13,250,000 shares of common stock.  Certain selling stockholders also closed on the offering of an additional 5,437,500 shares (including 2,437,500 shares of common stock sold pursuant to the over-allotment option which was exercised by the underwriters).  All shares of common stock were sold to the public at an offering price of $8.00 per share.  The resulting net proceeds to the Company, after deducting underwriting discounts and commissions, were approximately $101.8 million.  The Company intends to use its portion of the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.

Barclays, BMO Capital Markets, Citigroup, Raymond James and Wells Fargo Securities acted as joint book-runners for the offering, Johnson Rice & Company L.L.C. and Capital One Southcoast acted as senior co-managers for the offering and Global Hunter Securities, Scotiabank / Howard Weil, Ladenburg Thalmann & Co. Inc., SunTrust Robinson Humphrey and Wunderlich Securities acted as co-managers for the offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities referred to above. Copies of the final prospectus supplement and accompanying base prospectuses relating to the offering may be obtained free of charge on the SEC's website at www.sec.gov or from the underwriters by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing barclaysprospectus@broadridge.com; BMO Capital Markets, 3 Times Square, 27th Floor, New York, NY 10036, Attention: Syndicate Department, Telephone: (800) 414-3627, or by emailing bmoprospectus@bmo.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-800-831-9146 or by emailing batprospectusdept@citi.com; Raymond James, Attention: Prospectus Department, 880 Carillon Parkway, St. Petersburg, Florida 33716, Telephone: (800) 248-8863 or by emailing prospectus@raymondjames.com; or Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, Telephone: (800) 326-5897 or by e-mailing cmclientsupport@wellsfargo.com.

About Resolute Energy Corporation

Resolute is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties, with a particular emphasis on liquids focused, long-lived onshore U.S. opportunities. Resolute's producing properties are located in the Paradox Basin in Utah, the Permian Basin in Texas and New Mexico, the Bakken trend of North Dakota and the Powder River Basin in Wyoming.  The Company also owns exploration properties in the Permian Basin of Texas and the Big Horn Basin of Wyoming.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.  Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "poised," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements.  Such forward looking statements include statements regarding the intended use of proceeds of the offering.  Resolute's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.  Actual results may differ materially from those contained in the forward-looking statements in this press release.  Resolute undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see the Company's risk factors, as they may be amended from time to time, set forth in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2012, the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 and the prospectus supplement and accompanying base prospectuses mentioned above.  All forward-looking statements are qualified in their entirety by this cautionary statement.

CONTACT:

HB Juengling

Vice President - Investor Relations

Resolute Energy Corporation

303-534-4600

hbjuengling@resoluteenergy.com

 

SOURCE Resolute Energy Corporation

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