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Permian Resources offers 46.1M shares of Class A Common Stock for holders

Permian Resources (PR) announced the commencement of an underwritten public offering of an aggregate 46,112,899 shares of its Class A Common Stock by certain affiliates of Pearl Energy Investments and Riverstone Investment Group. Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom. Concurrently with the closing of the offering, the company intends to purchase from certain of the Selling Stockholders an aggregate 2M common units representing limited liability company interests in Permian Resources Operating, LLC, a Delaware limited liability company and a subsidiary of Permian Resources, at a price per OpCo Unit equal to the price per share at which the underwriters purchase shares of Class A common stock in the offering and to cancel a corresponding number of shares of the company’s Class C Common Stock held by such Selling Stockholders. The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering. Morgan Stanley, Citigroup and Goldman Sachs & Co. LLC are serving as the underwriters for the offering.

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