Secondary offering of 7.5M shares by selling stockholders; company concurrently purchases 2M units

Magnolia Oil & Gas Corp

Selling stockholders (EnerVest affiliates) sold 7,500,000 shares of Class A common at $27.01 per share in an underwritten offering.
Company concurrently purchased 2,000,000 Magnolia LLC Units from certain selling stockholders at the same price.
The offering and unit purchase closed on June 6, 2022; company received no proceeds from the share sale.
Post-offering, selling stockholders hold approximately 18% of the company's outstanding common stock.
Company funded the unit purchase with cash on hand; Morgan Stanley acted as sole book-running manager.

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