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NEW YORK - Permian Resources Corporation (NYSE:PR) has commenced an underwritten public offering of 46,112,899 shares of its Class A common stock, according to a press release statement issued Monday.
The offering includes shares from multiple stockholders, including affiliates of Riverstone Investment Group LLC. Riverstone Energy Limited (REL) confirmed it will participate in the offering, though specific share amounts for individual selling stockholders were not disclosed.
Permian Resources, a Delaware Basin-focused exploration and production company headquartered in Midland, Texas, is conducting the offering under a registration statement that became automatically effective upon filing with the U.S. Securities and Exchange Commission on November 8, 2023.
Pricing details for the secondary offering are expected to be announced soon, according to the statement.
The offering represents a significant liquidity event for existing shareholders, though it does not involve the issuance of new shares by Permian Resources itself, as it is exclusively a secondary offering of existing stock.
The transaction is being conducted through Deutsche Numis, which is serving as corporate broker for Riverstone Energy Limited in connection with the offering.
The company noted that the announcement does not constitute an offer to sell or solicitation to buy securities in jurisdictions where such actions would be unlawful without proper registration or qualification under applicable securities laws.
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