Mach Natural Resources LP (NYSE:MNR) (“Mach”) announced today
that the underwriters of its previously announced public offering
(the “Offering”) of 12,903,226 common units representing limited
partner interests in Mach (the “common units”) have fully exercised
their option to purchase an additional 1,935,483 common units at a
price to the public of $15.50 per common unit, less underwriting
discounts and commissions (the “Option”). The Option closed on
February 12, 2025.
Mach intends to use the net proceeds to repay in full the
approximately $23.0 million of borrowings outstanding under its
super priority credit facility, and the remainder to repay a
portion of its term loan credit facility. Mach expects to repay the
remainder of borrowings under and terminate its term loan credit
facility with cash on hand and proceeds from the credit facility it
intends to enter into following the date hereof.
Stifel, Nicolaus & Company, Incorporated, Raymond James
& Associates, Inc., TCBI Securities, Inc., doing business as
Texas Capital Securities, and Truist Securities, Inc. are acting as
joint book-running managers for the Offering. Johnson Rice &
Company L.L.C. and Stephens Inc. are serving as co-managers for the
Offering. The offering of these securities is being made only by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. A copy of the final prospectus
may be obtained from any of the following sources:
Stifel, Nicolaus & Company,
Incorporated
Attention: Syndicate
Department
Raymond James & Associates,
Inc.
Attention: Syndicate
TCBI Securities, Inc., doing
business as Texas Capital Securities
Attention: Prospectus
Department
Truist Securities, Inc
Attention: Equity Capital
Markets
1 South Street, 15th Floor
880 Carillon Parkway
2000 McKinney Avenue, 7th
Floor
3333 Peachtree Road NE, 9th
Floor
Baltimore, MD 21202
St. Petersburg, Florida 33716
Dallas, Texas 75201
Atlanta, GA 30326
Telephone: (855) 300-7136
Telephone: (800) 248-8863
Telephone: (866) 355-6329
Telephone: (800) 685-4786
Email:
syndprospectus@stifel.com
Email:
prospectus@raymondjames.com
Email:
prospectus@texascapital.com
Email:
truistsecurities.prospectus@truist.com
Important Information
A registration statement on Form S-3 relating to these
securities has been filed with the Securities and Exchange
Commission (the “SEC”) and has become effective. The Offering may
be made only by means of a prospectus supplement and accompanying
prospectus. Copies of the final prospectus supplement and
accompanying prospectus related to the Offering can be obtained by
visiting the SEC’s website at www.sec.gov under “Mach Natural
Resources LP.” This press release does not constitute an offer to
sell or the solicitation of an offer to buy securities, and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Mach Natural Resources LP
Mach Natural Resources LP is an independent upstream oil and gas
company focused on the acquisition, development and production of
oil, natural gas and NGL reserves in the Anadarko Basin region of
Western Oklahoma, Southern Kansas and the panhandle of Texas.
Cautionary Statement Concerning Forward-Looking
Statements
This release contains statements that express Mach’s opinions,
expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results, in contrast
with statements that reflect historical facts. All statements,
other than statements of historical fact included in this release
regarding our strategy, future operations, financial position,
estimated revenues and losses, projected costs, prospects, plans
and objectives of management are forward-looking statements,
including, but not limited to, statements regarding the anticipated
entry into our new credit facility, including timing, ability to
close the new credit facility, anticipated terms of the new credit
facility, anticipated uses of the funds from the new credit
facility and the anticipated use of the net proceeds from the
Offering, including the Option. When used in this release, words
such as “may,” “assume,” “forecast,” “could,” “should,” “will,”
“plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” “budget” and similar expressions are used to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. These forward-looking
statements are based on management’s current belief, based on
currently available information as to the outcome and timing of
future events at the time such statement was made. Such statements
are subject to a number of assumptions, risk and uncertainties,
many of which are beyond the control of Mach, including prevailing
market conditions and other factors. Please read Mach’s filings
with the SEC, including “Risk Factors” in Mach’s Annual Report on
Form 10-K, which is on file with the SEC, for a discussion of risks
and uncertainties that could cause actual results to differ from
those in such forward-looking statements.
As a result, these forward-looking statements are not a
guarantee of our performance, and you should not place undue
reliance on such statements. Any forward-looking statement speaks
only as of the date on which such statement is made, and Mach
undertakes no obligation to correct or update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20250212838796/en/
Mach Natural Resources LP Investor Relations Contact:
ir@machnr.com
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