Kimbell Royalty Partners Prices $149 Million Offering of Common Units
MT Newswires Live
Jan 08, 2025
Kimbell Royalty Partners (KRP) said Tuesday it priced an upsized public offering of 10 million common units at $14.90 per unit for gross proceeds of about $149 million.
Underwriters have been granted an option to purchase up to 1.5 million additional units.
The offering, which was upsized from its initial size of 9 million units, is expected to close Thursday.
Net proceeds will be used to repay debt under the company's revolving credit facility, which the company intends to use to finance the cash portion of its pending acquisition of oil and natural gas mineral and royalty interests from Boren Minerals.
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