
Permian Resources Corp. announced an underwritten public offering of 21.45 million shares of its Class A common stock at $13.05 per share. (Source: Shutterstock)
Permian Resources Corp. announced an underwritten public offering of 21.45 million shares of its Class A common stock at $13.05 per share by affiliates of NGP Energy Capital Management LLC in two separate Sept. 19 press releases.
The Midland-based Permian Resources will not receive proceeds from the stock offering, according to the statement from the company.
Underwriters have a 30-day option to purchase up to a little more than 3.2 million shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
Permian Resources also agreed to purchase from the selling stockholders an aggregate 2,200,000 common units representing limited liability company interests in Permian Resources Operating LLC, a Delaware limited liability company and a subsidiary of Permian Resources.
J.P. Morgan Securities LLC, BofA Securities Inc. and Truist Securities Inc. are serving as joint book-running managers. Barclays Capital Inc., Capital One Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are also serving as joint book-running managers. PNC Capital Markets LLC, U.S. Bancorp Investments Inc., Fifth Third Securities Inc., Comerica Securities Inc., Regions Securities LLC, CIBC World Markets Corp. and BOK Financial Securities Inc. are serving as co-managers for the offering.
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