Permian Resources Corp. said that affiliates of several private equity groups and company management plan to sell 48.5 million shares of Class A stock to the public at a price of $15.76 per share at a value of about $764 million.
Permian Resources is not selling any of its stock and will not receive any proceeds. Sellers include EnCap Investments LP, NGP Energy Capital Management LLC, Pearl Energy Investments and Riverstone Investment Group LLC.
Concurrent with the closing of the offering, Permian Resources has agreed to purchase from certain sellers an aggregate 2 million common units in Permian Resources Operating LLC, a Delaware limited liability company and a subsidiary of Permian Resources. The price per unit will be equal to the price per share of Class A common stock, $15.76.
Goldman Sachs & Co. LLC is serving as the underwriter for the offering. The offering is expected to close on March 6, subject to customary closing conditions.
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