Silver Point Capital and MacKay Shields Sell Gulfport Energy Shares in Secondary Public Offering

Paul, Weiss advised certain entities managed by Silver Point Capital and MacKay Shields LLC as the selling stockholders in a secondary public offering of 1,495,000 Gulfport Energy Corporation shares of common stock at a public offering price of $95.00 per share, for total proceeds of approximately $136.3 million. Gulfport Energy is an independent returns-oriented, gas-weighted exploration and development company. Bofa Securities, J.P. Morgan Securities and Evercore Group acted as lead book-running managers, and BTIG, Capital One Securities, CIBC Capital Markets, Fifth Third Securities, JMP Securities and MUFG acted as co-managers for the offering, which closed on June 26.

As part of the offering, Gulfport Energy repurchased 263,158 shares of common stock from the selling stockholders, for total proceeds of approximately $25 million, as part of its existing $400 million share repurchase program.

The Paul, Weiss team included restructuring partner Andrew Rosenberg; corporate partners Christodoulos Kaoutzanis and John Kennedy, and counsel Jason Tyler; and tax partner Matthew Jordan.