Gulfport Energy Announces Tender Offer for Its 8.0% Senior Notes Due 2026

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OKLAHOMA CITY, September 03, 2024--(BUSINESS WIRE)--Gulfport Energy Corporation (NYSE: GPOR) ("Gulfport" or the "Company") announced today that Gulfport Energy Operating Corporation ("Gulfport Operating"), a wholly owned subsidiary of Gulfport, commenced a cash tender offer (the "Tender Offer") to purchase any and all of the outstanding senior notes (the "Notes") listed in the following table upon the terms and conditions described in Gulfport Operating’s Offer to Purchase, dated September 3, 2024 (the "Offer to Purchase").

Certain information regarding the Notes and the U.S. Treasury Reference Security, the Bloomberg reference page and the fixed spread is set forth in the table below.

Title of
Security

CUSIP
Numbers

Principal
Amount
Outstanding

U.S. Treasury
Reference
Security

Bloomberg
Reference
Page

Fixed
Spread
(basis
points)

8.0% Senior Notes due 2026(1)

402635AQ9 (1145) /
402635AR7
(144A) /
402635AS5 (ACCD INV) /
U40347AH6
(Reg S)

$550,000,000

4.250% U.S.

Treasury due May 31,

2025

FIT 3

0

(1) The Notes are callable at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest, starting on May 17, 2025.

The "Purchase Price" for each $1,000 principal amount of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT 3 series of pages, at 2:00 p.m. New York City time, on September 9, 2024, the date on which the Tender Offer is currently scheduled to expire. The Purchase Price will be based on a yield to May 17, 2025, the date of the next specified redemption price reduction under the indenture governing the Notes, and assuming the Notes are redeemed on May 17, 2025, at the specified redemption price for such date of 100.000% of the principal amount, as described in the Offer to Purchase.

In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the initial date on which Gulfport Operating makes payment for such Notes, which date is currently expected to be September 13, 2024, assuming that the Tender Offer is not extended or earlier terminated.

The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/GPOR; or by requesting via email at GPOR@dfking.com.