Kimbell Royalty Partners LP (KRP) Prices 3.75M Unit Offering at $14/unit
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November 9, 2021 4:08 PM EST
Kimbell Royalty Partners, LP (NYSE: KRP), a leading owner of oil and gas mineral and royalty interests in approximately 13 million gross acres in 28 states, today announced that it has agreed to acquire (the "Acquisition") mineral and royalty interests from an undisclosed seller (the "Seller") in an all-cash transaction valued at approximately $57 million, subject to purchase price adjustments and other customary closing adjustments. Kimbell intends to raise the proceeds for the purchase price through a combination of an underwritten public offering of common units (announced substantially concurrently with this release) and borrowings under its revolving... More
November 9, 2021 4:06 PM EST
Kimbell Royalty Partners, LP (NYSE: KRP) today announced that it has commenced an underwritten public offering of 3,750,000 common units representing limited partner interests, subject to market and other conditions. In connection with the offering, Kimbell intends to grant the underwriters an option to purchase up to 562,500 additional common units at the public offering price less the underwriting discount and commissions.
Kimbell intends to use the net proceeds from the offering to fund a portion of the cash purchase price for the pending privately negotiated acquisition of oil and natural gas mineral and... More
