Permian Resources Corp. (PR), Monday announced the pricing of an underwritten public offering of approximately 51.77 million shares of Class A Stock at $16.47 per share.
The company added that the offered shares belong to certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC, and a certain member of the company's Board of Directors.
The offering is expected to close on May 15.
Simultaneously, the company has agreed to purchase an aggregate of 1.8 million units of its subsidiary Permian Resources Operating, LLC.
Currently, Permian Resources's stock is trading at $16.69, up 0.69 percent on the New York Stock Exchange.
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