NATURAL RESOURCE PARTNERS LP (NRP): debt financing — NRP ups credit facility by $15M to $200M; 500K warrants net-settled for $29.7M cash

NATURAL RESOURCE PARTNERS LP

Frost Bank increased commitment by $15M to $40M under accordion feature of existing credit facility.
Total credit facility commitments raised from $185M to $200M; other terms unchanged.
500,000 warrants exercised at $34.00 strike; 15-day VWAP prior to exercise was $93.47.
Warrants settled net on Feb 16, 2024 for $29.7M cash; 0.3M warrants at $34.00 remain outstanding.
Originally issued 4.0M warrants; exercise reduces potential dilution.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NATURAL RESOURCE PARTNERS LP amended credit facility of $15.0 million with Frost Bank.

Instrument: credit facility
Principal: $15.0 million
Counterparty: Frost Bank
Event: amendment

Exact text from the filing

amended and restated, supplemented or otherwise modified from time to time, the “Credit Facility”), to increase the total aggregate commitment under the Credit Facility by $15.0 million from $185.0 million to $200.0 million. The increase in the total aggregate commitment is being made pursuant to an accordion feature of the Credit Facility. The Credit Facility

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NATURAL RESOURCE PARTNERS LP filing history →

Source: SEC EDGAR

accession 0001437749-24-004832

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