- TXO Partners (NYSE:TXO) announces the pricing of its upsized public offering of 6.5 million common units at $20.00 per share.
- The offering was increased from the previously announced 5 million to 6.5 million common units.
- In addition, the company granted the underwriters an option to purchase up to an additional 975,000 common units at the public offering price.
- TXO expects to receive net proceeds of approximately $122.5 million and intends to use the proceeds from this offering to fund a portion of the cash consideration for the previously announced asset acquisitions from Eagle Mountain Energy Partners and a private company.
- Further, the company noted that in the event the acquisitions are not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes.
- The offering is expected to close on June 28, 2024.
2024-06-27