Permian Resources Corporation Announces Pricing Of Secondary Public Offering Of 48.5M Shares Of Class A Common Stock, At A Price To The Public Of $15.76 Per Share
Portfolio Pulse from Benzinga Newsdesk
Permian Resources Corporation (NYSE:PR) announced the pricing of a secondary public offering of 48.5 million shares of Class A common stock at $15.76 per share. The shares are being sold by affiliates of EnCap Investments, NGP Energy Capital Management, Pearl Energy Investments, and Riverstone Investment Group, along with certain company management members. Permian Resources will not sell any shares nor receive proceeds from this offering. Concurrently, the company will purchase 2 million OpCo Units from some selling stockholders, with the offering expected to close on March 6, 2024. Goldman Sachs & Co. LLC is the underwriter.

March 04, 2024 | 2:31 pm
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Permian Resources Corporation announced a secondary public offering of 48.5 million shares at $15.76 each, not benefiting financially from the sale.
The secondary offering of shares by Permian Resources does not directly impact the company's financial position as it will not receive any proceeds from the sale. However, the offering could influence the stock's market perception and liquidity. The neutral score reflects the balance between potential dilution effects and increased liquidity without direct financial benefit to the company.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100