TXO Partners, L.P. has entered into an underwriting agreement with Raymond James & Associates, Inc. to offer and sell 6,500,000 common units with an option for the underwriter to purchase an additional 975,000 units. The offering, which closed on June 28, 2024, resulted in proceeds of approximately $122.5 million, net of underwriting discounts and estimated offering expenses. These proceeds are intended for partial funding of acquisitions from Eagle Mountain Energy Partners, LLC, and a private company. If these acquisitions are not completed, the funds will repay outstanding loans and for general purposes. The Partnership also issued a press release about the offering's pricing.
Names mentioned: - TXO Partners, L.P. - TXO Partners GP, LLC - Raymond James & Associates, Inc. - Eagle Mountain Energy Partners, LLC - Brent W. Clum (President of Business Operations and Chief Financial Officer)