Bookrunner
Granite Ridge Resources, Inc.
Equity Capital Markets
Secondary Offering
Transaction Details
On September 12, 2023, Granite Ridge Resources, Inc. (“Granite Ridge” or the “Company”) announced the pricing of an underwritten secondary offering of 7,100,000 shares of its common stock at a public offering price of $5.00 per share
The offering consisted entirely of secondary shares offered by certain funds managed by Grey Rock Energy Management, LLC (“Grey Rock”)
- Granite Ridge will not sell any common stock in the offering and will not receive any proceeds from the sale of its common stock by Grey Rock in the offering
The underwriters will have a 30-day option to purchase up to an additional 1,065,000 shares of common stock from Grey Rock
About the company
Granite Ridge Resources, Inc. (NYSE: GRNT) is a scaled, non-operated oil & gas exploration and production company. The Company owns a portfolio of wells and top-tier acreage across the Permian and four other prolific unconventional basins across the United States. Rather than drill wells, the Company increases asset diversity and decreases overhead by investing in a smaller piece of a larger number of high-graded wells drilled by proven public and private operators. The Company creates value by generating sustainable full-cycle risk adjusted returns for investors, offering a rewarding experience for Granite Ridge’s team, and delivering reliable energy solutions to all.
Sources: Company filings and press release.
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For a printable version of this announcement, click here.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201,
ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: www.sec.gov/Archives/edgar/data/1928446/000110465923099474/tm2325623-1_424b3.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.; Stephens” (the company brand name) is a leading family-owned independent financial services firm. Stephens’ US operations are headquartered in Little Rock, AR, with strategic locations in the US and a European presence in the UK and Germany. Stephens Inc. is a Member of the New York Stock Exchange and the Securities Investor Protection Corporation and is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority. Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) is authorised and regulated by the Financial Conduct Authority. For more information, visit www.stephens.com. © 2023 Stephens