Permian Resources Prices Secondary Public Offering Of 39.4 Mln Shares

(RTTNews) - Permian Resources Corporation (PR), an oil and natural gas company, Tuesday announced pricing of secondary public offering approx. 39.4 million shares at $0.0001 per share, to raise around $512.4 million.

The selling stockholders are affiliates of NGP Energy Capital Management LLC, Riverstone Investment Group LLC and EnCap Investments LP.

Upon closing of offering, the company has agreed to purchase approx. 2.3 million shares of its subsidiary, Permian Resources Operating LLC., the company said in a statement.

The offering is expected to close on December 31.

Currently, the stock of Permian is moving down 3.05%, to $13.03 on the New York Stock Exchange.