Magnolia Oil & Gas: selling stockholders sell 7.5M shares at $16.38; company repurchases 3M parent units

Magnolia Oil & Gas Corp

Selling stockholders (EnerVest affiliates) sold 7,500,000 shares of Class A common at $16.38 per share in underwritten offering via J.P. Morgan.
Company concurrently purchased 3,000,000 Magnolia LLC Units and corresponding Class B shares from certain sellers at same price using cash on hand.
Company did not receive any proceeds from the offering; Concurrent Unit Purchase funded with cash on hand.
After the offering, selling stockholders collectively own approximately 31.5% of total outstanding common stock.
The offering and Concurrent Unit Purchase closed on September 28, 2021.

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