Vine Energy Inc. Announces Launch of Initial Public Offering

Rhea-AI Summary

Vine Energy Inc. has announced the launch of an initial public offering (IPO) for 18,750,000 shares of its Class A common stock, expected to be priced between $16.00 and $19.00 per share. The company also provides underwriters with a 30-day option to purchase up to 2,812,500 additional shares. Proceeds from the IPO will be used to repay existing credit facilities and for general corporate purposes. Vine plans to list on the New York Stock Exchange under the ticker symbol VEI.

Positive

• Proceeds will be used to fully repay existing credit facilities, improving financial stability.
• Plans for general corporate purposes indicate potential for growth and operational flexibility.

Negative

• Initial public offering may lead to shareholder dilution if additional shares are purchased by underwriters.

Vine Energy Inc. (“Vine”) announced today that it has launched an initial public offering of 18,750,000 shares of its Class A common stock at an anticipated initial offering price between $16.00 and $19.00 per share pursuant to a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “SEC”). In addition, Vine intends to grant the underwriters a 30-day option to purchase up to an additional 2,812,500 shares of Vine’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. Vine intends to list on the New York Stock Exchange under the ticker symbol “VEI.”

Vine expects to use the net proceeds from the offering to repay in full and terminate certain existing credit facilities of its subsidiaries, with any remaining net proceeds to be used for general corporate purposes.

Citigroup, Credit Suisse, Morgan Stanley, Barclays, BofA Securities and RBC Capital Markets are acting as joint book-running managers for the proposed offering. The offering of these securities will be made only by means of a prospectus. When available, a copy of the preliminary prospectus may be obtained from:

• Citigroup, Attention: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (800) 831-9146
• Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, E-mail: usa.prospectus@credit-suisse.com
• Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014
• Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (888) 603-5847, Email: Barclaysprospectus@broadridge.com
• BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Email: dg.prospectus_requests@bofa.com
• RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: equityprospectus@rbccm.com

Important Information

A registration statement, including a prospectus that is preliminary and subject to completion, 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 “Vine Energy 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.

About Vine Energy Inc.

Based in Plano, TX, Vine Energy Inc. is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana.

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 represent Vine’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 Vine’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These include, but are not limited to, statements regarding the terms of the offering and the intended use of proceeds therefrom.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Vine 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 Vine 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 Vine’s initial public offering. The risk factors and other factors noted in Vine’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

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FAQ

What is the anticipated price range for Vine Energy's IPO?

The anticipated price range for Vine Energy's IPO is between $16.00 and $19.00 per share.

How many shares is Vine Energy offering in its IPO?

Vine Energy is offering 18,750,000 shares in its initial public offering.

What will Vine Energy do with the proceeds from the IPO?

The proceeds from the IPO will be used to repay existing credit facilities and for general corporate purposes.

On which exchange will Vine Energy be listed?

Vine Energy plans to be listed on the New York Stock Exchange under the ticker symbol VEI.

What is the option given to underwriters in Vine Energy's IPO?

Underwriters have a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.