FX.co ★ Permian Resources Prices Secondary Offering Of Around 51.77 Mln Shares At $16.47/Share

Permian Resources Corp. declared on Monday the cost of an underwritten public offering involving approximately 51.77 million shares of their Class A Stock priced at $16.47 per share. It was clarified that these shares are owned by affiliates of varied firms such as EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC, as well as a board member of the company.

The offering is projected to finalize by May 15. In a parallel development, the company made an agreement to acquire 1.8 million units from its subsidiary, Permian Resources Operating, LLC. Currently, stocks of Permian Resources have seen a minor increase and are trading on the New York Stock Exchange at a rate of $16.69.