Permian Resources announces secondary offering of 39.4M shares by selling stockholders for ~$512M proceeds

Permian Resources Corp

Selling stockholders (NGP, Riverstone, EnCap affiliates) selling 39,414,415 Class A shares at ~$13.00 each for $512.4M gross proceeds.
Company receives no proceeds from the offering.
Concurrently, Permian Resources will buy 2,252,252 OpCo units from certain sellers at same price and cancel equivalent Class C shares.
Offering expected to close Dec 21, 2023, subject to customary conditions; concurrent purchase conditioned on offering completion.
J.P. Morgan is sole underwriter for the secondary offering.

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