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EQT to use $795.4M proceeds from offering to fund Marcellus/Utica acreage buy

's common stockoffering of 10.5 million shares closed May 6 with around $795.4 million in netproceeds after the underwriters exercised in full their option to buy up to anadditional 1,575,000 shares.

EQTintends to use the net proceeds from the offering to fund the company's plannedacquisition ofStatoil unit'sacreage in the Marcellus and Utica shale plays, as well as for other potentialacquisitions, and for general corporate purposes, according to a Form 8-K filedMay 6.

CreditSuisse Securities (USA) LLC and J.P. Morgan Securities LLC acted asrepresentatives of the underwriters in the offering.