Why Gastar Exploration (GST) Stock Is Down Today

NEW YORK (TheStreet) --aGastar Exploration was falling 3.2% to $6.31 Friday after announcing the pricing for its 17 million share offering of common stock. The oil and gas company priced the 17 million share offering at $6.25 a share. The underwriters of the offering have a 30-day option to buy up to an additional 2.55 million shares of common stock. Gastar Exploration expects net proceeds of about $101.2 million from the offering, or about $116.4 million is the underwriters exercise the option ...