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TXO Partners, L.P. Announces Commencement of Underwritten Public Offering
FORT WORTH, Texas, May 13, 2025--TXO Partners, L.P. (NYSE: TXO) ("TXO") today announced, subject to market and other conditions, the commencement of an underwritten public offering of $175 million of our common units representing limited partner interests in TXO (the "common units"). TXO expects to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of our common units at the public offering price, less underwriting discounts and commissions. TXO intends to use
About this update from Txo Partners, L.p.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/70898d4f1c87105f5408d710c8dabf7b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Z6durMMcRkSyrp7wTkComQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/70898d4f1c87105f5408d710c8dabf7b","width":480,"height":480}},"lazy":false},{"type":"text","content":"FORT WORTH, Texas, May 13, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") today announced, subject to market and other conditions, the commencement of an underwritten public offering of $175 million of our common units representing limited partner interests in TXO (the "common units"). TXO expects to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of our common units at the public offering price, less underwriting discounts and commissions. 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, LLC, a portfolio company of Quantum Capital Group (the "Acquisition"). 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.","length":1109,"tagName":"p"},{"type":"text","content":"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. The offering is being made pursuant to a combined prospectus with respect to two effective shelf registration statements, filed by TXO with the Securities and Exchange Commission ("SEC"). The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the prospectus supplement may be obtained from any of th...