Gulfport Energy Corp (GPOR)

Gulfport Energy Corporation (GPOR) fell 11.06% today after the announcement of share offering. Following, certain stockholders are selling 1.3 million shares at a price of $95.00 per share, which is below the stock's prior closing price of $107.88 per share. This has the offering devaluating the price of the stock. Gulfport will not sell any shares of its common stock in the offering and will not receive any proceeds from the sale of the shares being offered by the selling stockholders. The company intends to purchase from certain of the selling stockholders approximately $25 million of shares of the stock at the same price as the public in this offering. It's doing this under its current $400 million share repurchase program.

https://finance.yahoo.com/news/gulfport-energy-announces-pricing-offering-233200509.html