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 unit脿 comuni a 16,50 $ per unit脿. L'opzione si 猫 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 猫 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) anunci贸 que los suscriptores de su oferta p煤blica previamente anunciada han ejercido parcialmente su opci贸n de compra de 1,018,465 unidades comunes a $16.50 por unidad. La opci贸n cerr贸 el 24 de septiembre de 2024. Mach tiene la intenci贸n de utilizar los ingresos netos para adquisiciones pendientes y prop贸sitos generales de la sociedad, incluyendo posibles adquisiciones futuras.
La oferta est谩 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 trav茅s de un prospecto que cumple con los requisitos de la SEC, disponible a trav茅s de los gerentes conjuntos de libro.
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鞚� 鞝滉车鞚� Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated 氚� Truist Securities, Inc.臧� 瓿惦彊 欤缄磤 毵る媹鞝�搿� 甏�毽晿氅�, Johnson Rice & Company L.L.C. 氚� Stephens Inc.臧� 瓿惦彊 毵る媹鞝�搿� 頇滊彊頃╇媹雼�. 歃濌秾鞚� SEC 鞖旉惮 靷暛鞚� 於╈”頃橂姅 韴瀽 靹る獏靹滊ゼ 韱淀暣 鞝滉车霅橂┌, 瓿惦彊 欤缄磤 毵る媹鞝�鞐愱矊靹� 鞚挫毄 臧�電ロ暕雼堧嫟.
Mach Natural Resources LP (NYSE: MNR) a annonc茅 que les souscripteurs de son offre publique pr茅c茅demment annonc茅e ont partiellement exerc茅 leur option d'achat d'1 018 465 unit茅s ordinaires 脿 16,50 $ par unit茅. L'option a pris fin le 24 septembre 2024. Mach pr茅voit d'utiliser le produit net pour des acquisitions en attente et des objectifs g茅n茅raux de partenariat, y compris des acquisitions futures potentielles.
L'offre est g茅r茅e 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 aupr猫s des co-managers principaux.
Mach Natural Resources LP (NYSE: MNR) gab bekannt, dass die Underwriter seiner zuvor angek眉ndigten 枚ffentlichen Angebots teilweise ihre Option ausge眉bt haben, zus盲tzliche 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 Nettoerl枚se f眉r ausstehende Akquisitionen und allgemeine Partnerschaftszwecke, einschlie脽lich potenzieller zuk眉nftiger Akquisitionen, zu verwenden.
Das Angebot wird von Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated und Truist Securities, Inc. als gemeinsamen Hauptbuchf眉hrungsmanagern geleitet, w盲hrend Johnson Rice & Company L.L.C. und Stephens Inc. als Co-Manager fungieren. Die Wertpapiere werden 眉ber einen Prospekt angeboten, der die SEC-Anforderungen erf眉llt und bei den gemeinsamen Hauptbuchf眉hrungsmanagern erh盲ltlich 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 鈥淪EC鈥�) 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鈥檚 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 鈥渕ay,鈥� 鈥渁ssume,鈥� 鈥渇orecast,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥減roject,鈥� 鈥渂udget鈥� 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鈥檚 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鈥檚 filings with the SEC, including 鈥淩isk Factors鈥� in Mach鈥檚 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
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FAQ
How many additional common units did Mach Natural Resources LP (MNR) sell in the over-allotment option?
What was the price per common unit in Mach Natural Resources LP's (MNR) over-allotment option?
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?
