Permian Resources Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock
19 Diciembre 2023 - 8:22AM
Business Wire
Permian Resources Corporation (“Permian Resources” or the
“Company”) (NYSE: PR) today announced the pricing of an
underwritten public offering of an aggregate 39,414,415 shares of
its Class A Common Stock, par value $0.0001 per share (“Class A
common stock”), by certain affiliates of NGP Energy Capital
Management L.L.C., Riverstone Investment Group LLC and EnCap
Investments L.P. (the “Selling Stockholders”), resulting in total
gross proceeds of approximately $512.4 million. Permian Resources
will not sell any shares of Class A common stock in the offering
and will not receive any proceeds therefrom.
Concurrently with the closing of the offering, the Company has
agreed to purchase (the “Concurrent OpCo Unit Purchase”) from
certain of the Selling Stockholders an aggregate 2,252,252 common
units representing limited liability company interests (“OpCo
Units”) in Permian Resources Operating, LLC, a Delaware limited
liability company and a subsidiary of Permian Resources (“OpCo”),
at a price per OpCo Unit equal to the price per share at which the
underwriter purchases shares of Class A common stock in the
offering and to cancel a corresponding number of shares of the
Company’s Class C Common Stock, par value $0.0001 per share, held
by such Selling Stockholders. The offering of Class A common stock
is not conditioned upon the completion of the Concurrent OpCo Unit
Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon
the completion of the offering.
J.P. Morgan Securities LLC is serving as the underwriter for the
offering. The offering is expected to close on December 21, 2023,
subject to customary closing conditions.
The offering is being made pursuant to a registration statement
previously filed by the Company with the U.S. Securities and
Exchange Commission (the “SEC”) which became automatically
effective upon filing on November 8, 2023.
The offering is being made only by means of a prospectus and
prospectus supplement that meet the requirements under the
Securities Act of 1933, as amended (the “Securities Act”). Copies
of the preliminary prospectus supplement and accompanying base
prospectus and final prospectus supplement, when available, may be
obtained from: J.P. Morgan, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com; or by
accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy shares of Class A common stock or
any other securities, nor shall there be any sale of securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful without registration or qualification under the
securities laws of any such state or jurisdiction.
About Permian Resources
Headquartered in Midland, Texas, Permian Resources is an
independent oil and natural gas company focused on the responsible
acquisition, optimization and development of high-return oil and
natural gas properties. Permian Resources’ assets and operations
are concentrated in the core of the Delaware Basin.
Cautionary Note Regarding
Forward-Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact included
in this press release, regarding the completion of the offering and
the Concurrent OpCo Unit Purchase, the Company’s strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects, plans and objectives of management are
forward-looking statements. When used in this press release, the
words “could,” “may,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” “goal,” “plan,” “target” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Be cautioned that these
forward-looking statements are subject to all of the risk and
uncertainties, most of which are difficult to predict and many of
which are beyond Permian Resources’ control, incident to the
development, production, gathering and sale of oil and natural gas.
These risks include, but are not limited to, commodity price
volatility, inflation, lack of availability of drilling and
production equipment and services, risks relating to the Company’s
ability to realize the anticipated benefits and synergies of its
merger with Earthstone Energy, Inc. Actual results could differ
materially from those anticipated in these forward-looking
statements as a result of certain factors, including, but not
limited to, those set forth in the Company’s filings with the SEC,
including the prospectus relating to the offering, the Registration
Statement (as defined below), its Annual Report on Form 10-K for
the fiscal year ended December 31, 2022, and its subsequent
Quarterly Reports on Form 10-Q, under the caption “Risk Factors,”
as may be updated from time to time in the Company’s periodic
filings with the SEC. Any forward-looking statement in this press
release speaks only as of the date of this release. The Company
undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20231219612937/en/
Hays Mabry – Sr. Director, Investor Relations Mae Herrington –
Engineering Advisor, Investor Relations (832) 240-3265
ir@permianres.com
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