Desert Peak Minerals Inc. Launches Initial Public Offering

Rhea-AI Summary

Desert Peak Minerals Inc. announced an initial public offering (IPO) of 10,000,000 shares of Class A common stock, priced between $20.00 and $23.00 per share. The company will grant underwriters a 30-day option for an additional 1,500,000 shares. The shares are set to be listed under the ticker symbol DPM on the New York Stock Exchange. Barclays Capital, Credit Suisse, and UBS are the lead managers of the offering. Desert Peak focuses on managing mineral and royalty interests in the Permian Basin, holding over 100,000 net royalty acres.

Positive

• Launch of an IPO to raise capital, potentially enhancing liquidity and market presence.
• Strategic focus on the Permian Basin, a key area for mineral and royalty interests with significant cash flow potential.

Negative

• Potential dilution of existing shares with the issuance of additional stock.
• Market risks associated with the initial public offering and uncertainties regarding the effectiveness of the registration statement.

DENVER, Oct. 28, 2021 /PRNewswire/ -- Desert Peak Minerals Inc. ("Desert Peak") announced today that it has launched an all primary initial public offering of 10,000,000 shares of its Class A common stock ("common stock") at an anticipated initial offering price between $20.00 and $23.00 per share pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the "SEC"). In addition, Desert Peak intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol "DPM," subject to official notice of issuance.

Barclays Capital Inc., Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as lead book-running managers for the offering. The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the preliminary prospectus may be obtained from any of the following sources:

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
barclaysprospectus@broadridge.com

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
6933 Louis Stephens Drive
Morrisville, NC 27560
Telephone: 1-800-221-1037
usa.prospectus@credit-suisse.com

UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
Telephone: (888) 827-7275
ol-prospectus-request@ubs.com

About Desert Peak Minerals Inc.

Desert Peak Minerals Inc. was founded by Kimmeridge to acquire, own and manage high-quality Permian Basin mineral and royalty interests with the objective of generating cash flow from operations that can be distributed as dividends and reinvested to expand its base of cash flow generating assets. Desert Peak is a leading independent Permian Basin pure-play mineral and royalty company and has accumulated over 100,000 net royalty acres (when normalized to a 1/8th royalty equivalent) through the consummation of over 175 acquisitions to date.

Important Information

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under "Desert Peak Minerals Inc." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the initial public offering, represent Desert Peak's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Desert Peak's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Desert Peak does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Desert Peak to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Desert Peak's initial public offering. The risk factors and other factors noted in Desert Peak's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

Contacts

Desert Peak Minerals Inc.
Carrie Osicka
Chief Financial Officer
(720) 640-7651

 

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SOURCE Desert Peak Minerals Inc.

FAQ

What is the initial public offering price range for Desert Peak Minerals?

The IPO price range is anticipated to be between $20.00 and $23.00 per share.

How many shares is Desert Peak Minerals offering in its IPO?

Desert Peak Minerals is offering 10,000,000 shares in its IPO.

What is the ticker symbol for Desert Peak Minerals on the New York Stock Exchange?

The ticker symbol for Desert Peak Minerals is DPM.

Who are the lead managers for the Desert Peak Minerals IPO?

The lead managers are Barclays Capital, Credit Suisse, and UBS.

What is the purpose of Desert Peak's IPO?

The IPO aims to raise capital for managing mineral and royalty interests and to enhance liquidity.