Diversified Energy Announces Pricing of Secondary Offering of Ordinary Shares

Diversified Energy Announces Pricing of Secondary Offering of Ordinary Shares

BIRMINGHAM, Ala., Sept. 16, 2025 (GLOBE NEWSWIRE) -- Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) (“Diversified” or the "Company"), an independent energy company focused on natural gas and liquids production, transportation, marketing and well retirement, today announces the pricing of the previously announced underwritten public offering (the “Secondary Offering”) by certain funds or entities managed by an affiliate of EIG (“EIG”), an entity managed by FS/EIG Advisor, LLC and certain entities managed by FS/KKR Advisor, LLC (collectively, the “Selling Stockholders”) of 5,713,353 ordinary shares, nominal (par) value £0.20 per share (the “ordinary shares”), at a public offering price of $13.75 per share. In addition, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 857,002 ordinary shares at the public offering price, less underwriting discount.

The Secondary Offering consists entirely of ordinary shares to be sold by the Selling Stockholders. The Selling Stockholders will receive all of the net proceeds from the Secondary Offering. Diversified is not offering any ordinary shares in the Secondary Offering and will not receive any proceeds from the sale of ordinary shares in the Secondary Offering. The Secondary Offering is expected to settle on September 18, 2025, subject to customary closing conditions.

The Diversified Employee Benefit Trust, which is operated through a third-party trustee, has indicated an interest to participate and purchase from the underwriters 750,000 of the ordinary shares being sold in this Secondary Offering (the “EBT Purchase Shares”) at a price per ordinary share equal to the public offering price (the “EBT Transaction”) being a total consideration of $10,312,500. The initial sellers of the EBT Purchase Shares are certain funds or entities managed by an affiliate of EIG, and EIG is an associate of Diversified director, Randy Wade. Accordingly, the EBT Transaction constitutes a related party transaction under UKLR 8.2.1. The EBT Purchase Shares were originally issued by the Company as consideration for the acquisition of Maverick Natural Resources, LLC, which closed on March 14, 2025. The board of directors of the Company (the “Board”) confirms that it considers that the EBT Transaction is fair and reasonable as far as shareholders of Diversified are concerned and that the Board has been so advised by Stifel Nicolaus Europe Limited as sponsor to Diversified in connection with the EBT Transaction.

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