Brigham Minerals Launches Public Offering to Raise US$108.6 Million
Austin-based Brigham Minerals Inc. has commenced a public offering of 6,000,000 shares of Class A common stock priced at US$18.10 per share, to raise gross proceeds of US$108.6 million. Concurrently, existing stockholders of the Company including affiliates of private equity fund managers Warburg Pincus LLC, Yorktown Partners LLC, and Pine Brook Road Advisors LP, plan to sell an additional 5,000,000 shares of Class A common stock under the same offering. The Company intends to utilize the proceeds of the offering to repay outstanding indebtedness under its credit facility, and to fund future acquisitions of mineral and royalty interests in the United States. Credit Suisse, Goldman Sachs, and RBC Capital Markets are acting as book running lead managers and underwriters for the offering.