Riley Exploration Permian, Inc. (REPX): M&A transaction — Riley Permian closes $330M New Mexico acquisition with $200M 10.5% notes

On the Closing Date, the Company (as “Issuer”) completed its issuance of $200 million aggregate principal amount of 10.50% Senior Unsecured Notes due 2028 (the “Senior Notes”)

On the Closing Date, the Company entered into the fourteenth amendment (the “Fourteenth Amendment”) to the credit facility dated September 28, 2017 (the “Credit Facility”) with Truist Bank, as Administrative Agent, and the lenders party thereto. The Fourteenth Amendment to the Credit Facility increased the maximum facility amount to $1.0 billion and increased the borrowing base to $325 million.

On April 3, 2023 (the “Closing Date”), Riley Exploration - Permian, LLC. (“REP LLC”), a wholly-owned subsidiary of Riley Exploration Permian, Inc. (“REPX,” together with REP LLC, hereinafter referred to as the “Company”), completed its previously announced acquisition of oil and natural gas assets (the “New Mexico Acquisition”) from Pecos Oil & Gas, LLC (“Pecos”), a Delaware limited liability company and an affiliate of Cibolo Energy Partners LLC. The aggregate purchase price of the New Mexico Acquisition is $330 million, subject to customary purchase price adjustments pursuant to the purchase and sale agreement (the “Purchase Agreement”), and was funded through a combination of borrowings under the Company's revolving credit facility and proceeds from the issuance of $200 million of unsecured senior notes.

On the Closing Date, the Company entered into the fourteenth amendment (the “Fourteenth Amendment”) to the credit facility dated September 28, 2017 (the “Credit Facility”) with Truist Bank, as Administrative Agent, and the lenders party thereto.

On the Closing Date, the Company (as “Issuer”) completed its issuance of $200 million aggregate principal amount of 10.50% Senior Unsecured Notes due 2028 (the “Senior Notes”) pursuant to a note purchase agreement (the “Note Purchase Agreement”), which the Senior Notes were issued at a 6% discount.

On April 3, 2023 (the “Closing Date”), Riley Exploration - Permian, LLC. (“REP LLC”), a wholly-owned subsidiary of Riley Exploration Permian, Inc. (“REPX,” together with REP LLC, hereinafter referred to as the “Company”), completed its previously announced acquisition of oil and natural gas assets (the “New Mexico Acquisition”) from Pecos Oil & Gas, LLC (“Pecos”), a Delaware limited liability company and an affiliate of Cibolo Energy Partners LLC.