Permian Resources announces secondary offering of 48.5M shares by stockholders; co-CEOs to sell small portion

Permian Resources Corp

Selling stockholders include affiliates of EnCap, NGP, Pearl Energy, Riverstone and certain management offering 48.5M Class A shares.
Permian Resources will not sell shares or receive proceeds; concurrently to purchase 2M OpCo Units from certain selling stockholders.
Co-CEOs James Walter and Will Hickey each offer up to 4M shares (<20% of holdings), each retaining at least 12M shares.
After offering, management will collectively own ~6.7% of common stock representing over $800M in value based on March 1 price.
Goldman Sachs is sole underwriter; offering is subject to market and other conditions.

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