Mach Natural Resources (MNR) launched a public offering of 12 million common units and will grant an overallotment option to the underwriters to acquire up to 1.8 million additional units.
Net proceeds are expected to be for full repayments of $23 million of borrowings outstanding under a super priority credit facility, among other things, the company said Wednesday in a statement.
Mach Natural shares fell 6.9% in after-hours activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.