LandBridge announces secondary public offering of 2.5M Class A shares at $70 per share by Selling Shareholder

LandBridge Co LLC

LandBridge Holdings LLC, the Selling Shareholder, sold 2,500,000 Class A shares at $70.00 per share, total proceeds $175 million.
The Company received no proceeds from the offering; the offering closed on November 18, 2025.
Goldman Sachs & Co. LLC served as sole book-running manager for the underwritten offering.
The Selling Shareholder granted the underwriter a 30-day option to purchase up to an additional 375,000 Class A shares.
Lock-up agreements restrict the Company, executives, directors, and Selling Shareholder from selling shares for 60 days.

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