LANDBRIDGE ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING AND CONCURRENT PRIVATE PLACEMENT AND FULL EXERCISE OF THE UNDERWRITERS’ OPTION TO PURCHASE ADDITIONAL SHARES
02 Luglio 2024 - 1:00AM
Business Wire
LandBridge Company LLC (“LandBridge”) closed its initial public
offering of 14,500,000 Class A shares representing limited
liability company interests (“Class A shares”) at a price to the
public of $17.00 per Class A share. In addition, the underwriters
have exercised in full their 30-day option to purchase an
additional 2,175,000 Class A shares at the public offering price,
less underwriting discounts and commissions. The Class A shares
began trading on the New York Stock Exchange (“NYSE”) under the
ticker symbol “LB” on June 28, 2024. In addition to the Class A
shares sold in the offering, LandBridge sold 750,000 Class A shares
at a price of $17.00 per Class A share in a concurrent private
placement to an accredited investor (the “concurrent private
placement”). The sale of the Class A shares in the concurrent
private placement are exempt from registration under the Securities
Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and
Regulation D promulgated thereunder.
LandBridge received net proceeds of approximately $270.9 million
from the offering and concurrent private placement, after deducting
underwriting discounts and commissions, placement agent fees and
offering expenses.
Goldman Sachs & Co. LLC and Barclays acted as lead
book-running managers for the offering. Additional book-running
managers for the offering were Wells Fargo Securities, Citigroup,
Piper Sandler and Raymond James. Janney Montgomery Scott, Johnson
Rice & Company, Pickering Energy Partners, Texas Capital
Securities, and Roberts & Ryan acted as co-managers for the
offering. Goldman Sachs & Co. LLC also acted as the placement
agent for the concurrent private placement.
A registration statement relating to the Class A shares offered
in the initial public offering has been filed and was declared
effective by the U.S. Securities and Exchange Commission on June
27, 2024 (the “Registration Statement”). The offering of these
securities was made only by means of a prospectus that meets the
requirements of Section 10 of the Securities Act of 1933, as
amended. Copies of the prospectus related to these securities can
be obtained from any of the following sources:
Goldman Sachs & Co. LLC Attention: Prospectus Department 200
West Street New York, NY 10282 Telephone:(866) 471-2526
prospectus-ny@ny.email.gs.com
Barclays Capital Inc. Attention: Broadridge Financial Solutions
1155 Long Island Avenue Edgewood, NY 11717 Telephone: (888)
603-5847 barclaysprospectus@broadridge.com
About LandBridge
LandBridge owns approximately 220,000 surface acres across Texas
and New Mexico, located primarily in the heart of the Delaware
sub-basin in the Permian Basin, the most active region for oil and
natural gas exploration and development in the United States.
LandBridge actively manages its land and resources to support and
encourage oil and natural gas production and broader industrial
development. Since its founding in 2021, LandBridge has served as
one of the leading land management businesses within the Delaware
Basin. LandBridge was formed by Five Point Energy LLC, a leading
energy private equity firm with a successful track record of
investing in and developing energy, environmental water management
and sustainable infrastructure companies within the Permian
Basin.
Important Information
The Registration Statement may be obtained free of charge at the
SEC’s website at www.sec.gov under “LandBridge Co LLC.” This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of
any securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20240701132935/en/
Daniel Yunger / Jon Morgan / Nathaniel Shahan Kekst CNC
kekst-landbridge@kekstcnc.com Scott McNeely Chief Financial Officer
LandBridge Company LLC 832-703-1433
Scott.mcneely@landbridgeco.com
Grafico Azioni LandBridge (NYSE:LB)
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Grafico Azioni LandBridge (NYSE:LB)
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