LandBridge to sell 5.83M shares at $60.03 in private placement

LandBridge (LB) also announced that it has entered into agreements to issue 5,830,419 Class A shares representing limited liability company interests, at a price of $60.03 per Class A share, in a private placement to select institutional and accredited investors constituting a group of both new and existing shareholders. LandBridge expects to use approximately $200M of the net proceeds from the private placement to partially fund the acquisition, with the balance of such net proceeds being used to redeem or repurchase units representing membership interests in DBR Land Holdings that are held by LandBridge Holdings, an affiliate of Five Point Energy. The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from, or a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. The closing of the private placement is conditioned upon, and subject to, the closing of the acquisition; however, the acquisition is not conditioned upon, or subject to, the closing of the private placement. The closing of both the acquisition and the private placement is expected to take place in the fourth quarter of 2024.