Permian Resources files to sell 39.4M shares of Class A common stock for holders

Permian Resources announced the commencement of an underwritten public offering of an aggregate 39,414,415 shares of its Class A Common Stock, par value $0.0001 per share by certain affiliates of NGP Energy Capital Management L.L.C., Riverstone Investment Group LLC and EnCap Investments L.P. Concurrently with the closing of the offering, the company intends to purchase from certain of the Selling Stockholders an aggregate 2,252,252 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 underwriter purchases 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, par value $0.0001 per share, 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. J.P. Morgan Securities LLC is serving as the underwriter for the offering.