Mach Natural Resources LP Announces Exercise of Over-Allotment Option
Mach Natural Resources LP (NYSE: MNR) announced that underwriters of its previously announced public offering have partially exercised their option to purchase an additional 1,018,465 common units at $16.50 per unit. The option closed on September 24, 2024. Mach intends to use the net proceeds for pending acquisitions and general partnership purposes, including potential future acquisitions.
The offering is managed by Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, and Truist Securities, Inc. as joint book-running managers, with Johnson Rice & Company L.L.C. and Stephens Inc. serving as co-managers. The securities are being offered through a prospectus meeting SEC requirements, available from the joint book-running managers.
Mach Natural Resources LP (NYSE: MNR) ha annunciato che i sottoscrittori dell'offerta pubblica precedentemente annunciata hanno parzialmente esercitato la loro opzione di acquisto di ulteriori 1.018.465 unità comuni a 16,50 $ per unità. L'opzione si è chiusa il 24 settembre 2024. Mach intende utilizzare i proventi netti per acquisizioni in sospeso e fini generali di partnership, incluse potenziali acquisizioni future.
L'offerta è gestita da Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated e Truist Securities, Inc. come co-manager, con Johnson Rice & Company L.L.C. e Stephens Inc. come co-manager. I titoli sono offerti attraverso un prospetto che soddisfa i requisiti della SEC, disponibile dai co-manager.
Mach Natural Resources LP (NYSE: MNR) anunció que los suscriptores de su oferta pública previamente anunciada han ejercido parcialmente su opción de compra de 1,018,465 unidades comunes a $16.50 por unidad. La opción cerró el 24 de septiembre de 2024. Mach tiene la intención de utilizar los ingresos netos para adquisiciones pendientes y propósitos generales de la sociedad, incluyendo posibles adquisiciones futuras.
La oferta está gestionada por Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated y Truist Securities, Inc. como gerentes conjuntos de libro, con Johnson Rice & Company L.L.C. y Stephens Inc. como co-gerentes. Los valores se ofrecen a través de un prospecto que cumple con los requisitos de la SEC, disponible a través de los gerentes conjuntos de libro.
Mach Natural Resources LP (NYSE: MNR)는 이전에 발표한 공개 제공의 인수자들이 추가 1,018,465개의 보통주를 단위당 $16.50에 구매할 수 있는 옵션을 부분적으로 행사했다고 발표했습니다. 이 옵션은 2024년 9월 24일에 종료되었습니다. Mach는 순수익을 보류 중인 인수 및 일반 파트너십 목적, 잠재적인 미래 인수를 포함하여 사용하려고 합니다.
이 제공은 Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated 및 Truist Securities, Inc.가 공동 주관 매니저로 관리하며, Johnson Rice & Company L.L.C. 및 Stephens Inc.가 공동 매니저로 활동합니다. 증권은 SEC 요구 사항을 충족하는 투자 설명서를 통해 제공되며, 공동 주관 매니저에게서 이용 가능합니다.
Mach Natural Resources LP (NYSE: MNR) a annoncé que les souscripteurs de son offre publique précédemment annoncée ont partiellement exercé leur option d'achat d'1 018 465 unités ordinaires à 16,50 $ par unité. L'option a pris fin le 24 septembre 2024. Mach prévoit d'utiliser le produit net pour des acquisitions en attente et des objectifs généraux de partenariat, y compris des acquisitions futures potentielles.
L'offre est gérée par Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated et Truist Securities, Inc. en tant que co-managers principaux, avec Johnson Rice & Company L.L.C. et Stephens Inc. servant de co-managers. Les titres sont offerts par le biais d'un prospectus respectant les exigences de la SEC, disponible auprès des co-managers principaux.
Mach Natural Resources LP (NYSE: MNR) gab bekannt, dass die Underwriter seiner zuvor angekündigten öffentlichen Angebots teilweise ihre Option ausgeübt haben, zusätzliche 1.018.465 Stammanteile zu einem Preis von 16,50 $ pro Anteil zu kaufen. Die Option wurde am 24. September 2024 abgeschlossen. Mach beabsichtigt, die Nettoerlöse für ausstehende Akquisitionen und allgemeine Partnerschaftszwecke, einschließlich potenzieller zukünftiger Akquisitionen, zu verwenden.
Das Angebot wird von Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated und Truist Securities, Inc. als gemeinsamen Hauptbuchführungsmanagern geleitet, während Johnson Rice & Company L.L.C. und Stephens Inc. als Co-Manager fungieren. Die Wertpapiere werden über einen Prospekt angeboten, der die SEC-Anforderungen erfüllt und bei den gemeinsamen Hauptbuchführungsmanagern erhältlich ist.
- Additional capital raised through over-allotment option exercise
- Proceeds to be used for pending acquisitions and future growth opportunities
- Successful completion of public offering indicates investor interest
- Potential dilution of existing shareholders due to additional units issued
Insights
The partial exercise of the over-allotment option for Mach Natural Resources LP's public offering is a positive development, indicating strong demand for the company's units. The additional
This capital raise strengthens Mach's ability to fund pending acquisitions and provides flexibility for future growth opportunities. The successful placement of additional units also demonstrates investor confidence in the company's business model and growth prospects in the natural resources sector.
However, investors should consider the dilutive effect of the additional units on existing unitholders. The increased unit count may impact earnings per unit in the short term, although the potential for accretive acquisitions could offset this in the long run. The market's reception to this additional issuance will be important to monitor in the coming trading sessions.
The partial exercise of the over-allotment option suggests a healthy appetite for Mach Natural Resources LP's units in the market. This successful capital raise positions the company favorably against its peers in the competitive natural resources sector, potentially enhancing its market share and operational capabilities.
The involvement of reputable underwriters like Raymond James, Stifel and Truist Securities lends credibility to the offering and may attract institutional investors. The additional capital could accelerate Mach's growth strategy, particularly in acquisitions, which is important in an industry where scale and resource diversification are key competitive advantages.
Investors should watch for upcoming announcements on specific acquisition targets or completed deals, as these will be critical in assessing the effective use of the newly raised capital and the company's execution of its growth strategy. The market's response to these future developments will likely influence the stock's performance in the medium term.
Mach intends to use the net proceeds to fund pending acquisitions and for general partnership purposes, which may include future acquisitions.
Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. are acting as joint book-running managers for the offering. Johnson Rice & Company L.L.C. and Stephens Inc. are serving as co-managers for the offering. The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the final prospectus may be obtained from any of the following sources:
Raymond James & Associates, Inc. Attention: Syndicate |
Stifel, Nicolaus & Company, Incorporated Attention: Syndicate Department |
Truist Securities, Inc Attention: Equity Capital Markets |
880 Carillon Parkway |
1 South Street, 15th Floor |
3333 Peachtree Road NE, 9th Floor |
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Telephone: (800) 248-8863 |
Telephone: (855) 300-7136 |
Telephone: (800) 685-4786 |
Email: prospectus@raymondjames.com |
Email: syndprospectus@stifel.com |
Important Information
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”) on September 6, 2024. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Mach Natural Resources LP
Mach Natural Resources LP is an independent upstream oil and gas Company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the
Cautionary Note Regarding Forward-Looking Statements
This release contains statements that express Mach’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact included in this release regarding our strategy, future operations, prospects, plans and objectives of management are forward-looking statements. When used in this release, words such as “may,” “assume,” “forecast,” “could,” “should,” “will,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “budget” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current belief, based on currently available information as to the outcome and timing of future events at the time such statement was made. Such statements are subject to a number of assumptions, risk and uncertainties, many of which are beyond the control of Mach, including prevailing market conditions and other factors. Please read Mach’s filings with the SEC, including “Risk Factors” in Mach’s Annual Report on Form 10-K, which is on file with the SEC, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements.
As a result, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which such statement is made, and Mach undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
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Mach Natural Resources LP
Investor Relations Contact: ir@machnr.com
Source: Mach Natural Resources LP
FAQ
How many additional common units did Mach Natural Resources LP (MNR) sell in the over-allotment option?
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When did the over-allotment option for Mach Natural Resources LP (MNR) close?
How does Mach Natural Resources LP (MNR) plan to use the proceeds from the over-allotment option?
