TXO Partners (TXO) announced, subject to market and other conditions, the commencement of an underwritten public offering of $175M of its common units representing limited partner interests in TXO. TXO intends to use the net proceeds from this offering, if consummated, to fund a portion of the cash consideration for the previously announced asset acquisition from White Rock Energy, a portfolio company of Quantum Capital Group. The offering is not conditioned on the consummation of the acquisition. Pending the closing of the acquisition, and in the event that the acquisition is not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes. Raymond James and Stifel are acting as joint book-running managers for the offering. Capital One Securities, Mizuho, and Texas Capital Securities are also acting as joint book-running managers for the offering.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TXO:
- TXO Partners to acquire Elm Coulee assets in up to $475M deal
- TXO Energy Partners Announces Q1 2025 Distribution
- Seeking at Least 14% Dividend Yield? Analysts Suggest 2 Dividend Stocks to Buy
- TXO Partners resumed with a Buy at Stifel
- TXO Energy Partners price target lowered to $23 from $27 at Raymond James
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue