AUSTIN, Texas–(BUSINESS WIRE)–Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham Minerals” or the “Company”) today announced the commencement of an underwritten public offering of 11,000,000 shares of its Class A common stock (“common stock”), pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the “SEC”). The Company is offering 6,000,000 shares of its common stock, and the selling stockholders named in the registration statement, which are affiliates of Warburg Pincus LLC, Yorktown Partners LLC and Pine Brook Road Advisors, LP, are offering 5,000,000 shares of Brigham Minerals’ common stock. The selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of Brigham Minerals’ common stock.
Brigham Minerals intends to use the net proceeds it receives from the offering to repay outstanding indebtedness under the Company’s credit facility and to fund future acquisitions of mineral and royalty interests. Brigham Minerals will not receive any of the proceeds from the sale of shares of its common stock held by the selling stockholders.
Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and RBC Capital Markets, LLC are acting as lead book-running managers for the offering.
This offering is being made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the preliminary prospectus may be obtained from:
Credit Suisse Securities (USA) LLC
Goldman Sachs & Co. LLC
RBC Capital Markets, LLC
Attention: Prospectus Department
Attention: Prospectus Department
Attention: Equity Capital Markets
Eleven Madison Avenue, 3rd floor
200 West Street
200 Vesey Street, 8th floor
New York, NY 10010
New York, NY 10282
New York, NY 10281
Telephone: (212) 902-1171
About Brigham Minerals, Inc.
Brigham Minerals is an Austin, TX based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States, including the Permian Basin in Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin of Oklahoma, the Denver-Julesburg (“DJ”) Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. Brigham Minerals’ primary business objective is to maximize risk-adjusted total return to its shareholders by both capturing organic growth in free cash flow from the continued development of its existing portfolio of undeveloped horizontal drilling locations unburdened by development capital expenditures or lease operating expenses, as well as leveraging its highly experienced technical evaluation team to continue to execute upon its scalable business model of sourcing, methodically evaluating and integrating accretive minerals acquisitions in the core of these top-tier, liquids-rich resource plays.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Brigham Minerals, Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the public offering, represent Brigham Minerals’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Brigham Minerals’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Brigham Minerals does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Brigham Minerals to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Brigham Minerals’ public offering. The risk factors and other factors noted in Brigham Minerals’ prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.
SOURCE Brigham Minerals, Inc.
At the Company:
Brigham Minerals, Inc.
Blake C. Williams
Chief Financial Officer
For Investor and Media Inquiries:
Lincoln Churchill Advisors
Julie D. Baughman