Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., May. 8, 6:45 AM
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Slide #23. PHX Minerals Inc. — Secondary Offering
PHX Minerals Inc. (NYSE:PHX)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
PHX Minerals Inc. (NYSE: PHX) ("PHX" or the "Company") announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock (the "Common Stock Offering"). PHX also intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock. -updated 4/16- PHX Minerals Inc. (NYSE: PHX) ("PHX" or the "Company") announced today that it has priced an underwritten public offering of 5,500,000 shares of the Company's common stock at a price to the public of $2.00 per share. The Company was initially offering 5,000,000 shares of common stock. In addition, the Company granted the underwriters a 30-day option to purchase up to 825,000 additional shares of common stock at the same price per share. The offering is expected to close on or about April 20, 2021, subject to customary closing conditions.
PHX Minerals focuses on perpetual natural gas and oil mineral ownership and growth through the acquisitions of producing minerals and the development of its mineral acreage inventory. Co. owns interests in leasehold acreage and non-operated interests in natural gas and oil properties. Co.'s mineral and leasehold properties are located primarily in Oklahoma, Texas, North Dakota, Arkansas and New Mexico. The majority of Co.'s natural gas, oil and natural gas liquids (NGL) production is from wells located in Oklahoma, Texas, North Dakota and Arkansas. Co.'s principal products from the production associated with its royalty and non-operated interestsare crude oil, natural gas and NGL.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 84% of all stocks covered)
Based on Zacks ABR data;
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