SoftVest and Blackbeard propose combining Permian Basin Royalty Trust assets into new public corp

PERMIAN BASIN ROYALTY TRUST

SoftVest and Blackbeard entered definitive Combination Agreement to combine Trust assets and Blackbeard's mineral interests into New PBT.
Completion requires Trust unitholders' vote; SoftVest and others holding >15% of units requested special meeting.
New PBT plans to file Form S-4 (proxy/prospectus) and Form S-1 (rights offering) with SEC; Trustee makes no recommendation.
No deal value or premium disclosed; Trustee is not a party to the agreement.

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