Permian Resources announces secondary offering by selling stockholders and full redemption of 6.875% notes

Permian Resources Corp

Selling stockholders (EnCap, NGP, Pearl, Riverstone, management) to sell 48.5M shares at $15.76/share; company receives no proceeds.
Concurrently, company will buy 2M OpCo Units from certain selling stockholders at same price and cancel corresponding Class C shares.
Company redeems all $356.351M 6.875% Senior Notes due 2027 on April 5, 2024 at 100% principal plus accrued interest.
Offering expected to close March 6, 2024; Goldman Sachs is sole underwriter.

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