Parsley Energy, Inc. announced the pricing of its initial public offering of 50,000,000 shares of its Class A common stock at $18.50 per share. The shares are expected to begin trading on the New York Stock Exchange on May 23, 2014 under the ticker symbol 'PE.'
Parsley is offering 42,463,636 shares of its Class A common stock and the selling stockholders named in the registration statement are offering 7,536,364 shares of Parsley's Class A common stock. Parsley has granted the underwriters a 30-day option to purchase up to an additional 7,500,000 shares from Parsley. The offering is expected to close on May 29, 2014, subject to customary closing conditions.