secwatch.observer — SEC 8-K summary
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Issuer:     CIVITAS RESOURCES, INC. (—)
CIK:        0001509589
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001104659-23-086811
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civitas closes $2.25B Hibernia and $2.45B Tap Rock acquisitions; credit facility expanded to $3B base
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- Closed Hibernia acquisition for ~$2.25B cash; Tap Rock acquisition for ~$1.5B cash + 13.5M CIVI shares (~$950M).
- Credit agreement amended: borrowing base raised to $3.0B (from $1.85B); commitments increased to $1.85B.
- Maturity of credit facility extended to August 2, 2028; maximum credit amount set at $4.0B.
- Entered registration rights agreement for Tap Rock stock consideration to facilitate resale.
- Financial statements and pro forma info to be filed by amendment within 71 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/tm2322539d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-086811

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