secwatch.observer — SEC 8-K summary
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Issuer:     LandBridge Co LLC (LB)
CIK:        0001995807
Form:       8-K
Filed at:   2024-11-22T23:59:59+00:00
Accession:  0000950170-24-129975
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LandBridge acquires 46,000 acres for $245M, raises $350M via private placement, ups 2025 EBITDA guidance to $170-190M
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- Acquires 46,000 surface acres in Reeves/Pecos, Texas for $245M; seller VTX Energy commits $25M/year revenue for 5 years.
- Private placement of 5.83M Class A shares at $60.03 raises ~$350M; $200M funds acquisition, balance used for share repurchase/cancellation.
- Closes Lea County, NM acquisition (~5,800 acres); total holdings to ~272,000 acres after Wolf Bone closing.
- Raises 2025 Adjusted EBITDA guidance to $170-190M; expects >20% FCF per share accretion.
- Pro forma LQA net leverage 2.7x, liquidity ~$113M; management and Five Point own ~70% post-placement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1995807/000095017024129975/0000950170-24-129975-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1995807/000095017024129975/lb-20241118.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-129975

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