SilverBow Resources announced that it has commenced an underwritten public offering of 3M shares of its common stock, which includes 2.25M shares being offered by the company and 750K shares being offered by an affiliate of Strategic Value Partners. The company intends to use the net proceeds from the offering to repay a portion of the amounts outstanding under its senior secured revolving credit facility and for general corporate purposes. Citigroup, Mizuho and Johnson Rice & Company are acting as joint book-running managers for the offering.
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