LandBridge closes ~46K-acre Wolf Bone Ranch acquisition for $245M; raises $350M equity

LandBridge Co LLC

Acquired ~46,000 surface acres in Reeves and Pecos Counties, Texas for $245M cash; funded by $200M private placement and $45M term loan draw.
Private placement of 5,830,419 Class A shares at $60.03/sh raised gross proceeds of $350M; $150M used to repurchase OpCo units from sponsor with no shareholder dilution.
VTX Energy provided a minimum annual revenue commitment of $25M for each of the next five years on the acquired land.
Total Delaware Basin holdings now ~273,000 surface acres; company reaffirms 2025 Adjusted EBITDA guidance of $170M–$190M.
Registration rights agreement filed covering resale of the 5,830,419 Class A shares issued in the private placement.

item 1.01 item 2.01 item 7.01 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.