Permian Resources Corporation Announces Secondary Public Offering Of 20.3M Shares Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Permian Resources Corporation (NYSE:PR) has announced a secondary public offering of 20.3 million shares of its Class A Common Stock. The shares are being sold by affiliates of NGP Energy Capital Management, not by Permian Resources itself. The company also plans to purchase 2.2 million common units from the selling stockholders. J.P. Morgan, BofA Securities, and Truist Securities are serving as joint book-running managers for the offering.
September 19, 2023 | 8:02 pm
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Permian Resources is conducting a secondary public offering of 20.3 million shares. This could potentially dilute the value of existing shares, impacting the stock price.
Secondary public offerings often lead to dilution of existing shares, which can negatively impact the stock price. However, the actual impact will depend on the market's reaction to the news.
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