- Kimbell Royalty Partners ( NYSE: KRP ) has priced its upsized offering of 6M common units at $17.75/unit, for gross proceeds of $106.5M.
- Underwriters were granted an option to purchase up to 900K additional common units at the public offering price less the underwriting discount and commissions.
- Net proceeds from the offering will be used to fund a portion of the cash purchase price for the pending acquisition of oil and natural gas mineral and royalty interests held by Austin-based Hatch Royalty and repayment of outstanding borrowings under its revolving credit facility.
- The offering is expected to close on November 8, 2022.
For further details see:
Kimbell Royalty Partners prices $106.5M offering