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MGY - Magnolia Oil & Gas to sell 17M shares in secondary offering
Magnolia Oil & Gas Corporation Class A
Magnolia Oil & Gas (MGY) -5.4% post-market after launching a secondary public offering of 17M class A common shares by selling stockholders, with an underwriters option to purchase up to an aggregate additional 2.55M shares.Magnolia says it will purchase 5M class B common shares from the selling stockholders, concurrent with the offering.The company will not sell any shares in the offering or receive any proceeds from the offering.