TXO Partners, L.P. Announces Pricing of Public Offering

In This Article:

FORT WORTH, Texas, May 14, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") today announced the pricing of its public offering of $175 million of our common units, made up of 11,666,667 common units representing limited partner interests in TXO (the "common units") at price to the public of $15.00 per common unit. TXO has granted the underwriters an option to purchase up to an additional 1,750,000 common units at the public offering price, less underwriting discounts and commissions. The offering is expected to close on May 15, 2025, subject to customary closing conditions.

TXO expects to receive net proceeds of approximately $165.3 million, after deducting underwriting discounts and commissions and excluding any exercise of the underwriters’ option to purchase additional common units. TXO intends to use the net proceeds from this offering, if consummated, to fund a portion of the cash consideration for the previously announced asset acquisition from White Rock Energy, LLC, a portfolio company of Quantum Capital Group (the "Acquisition"). The offering is not conditioned on the consummation of the Acquisition. Pending the closing of the Acquisition, and in the event that the Acquisition is not completed, the proceeds from the offering will be used to repay the outstanding borrowings under TXO’s revolving credit facility and for general partnership purposes.

Raymond James and Stifel are acting as joint book-running managers for the offering. Capital One Securities, Mizuho, and Texas Capital Securities are also acting as joint book-running managers for the offering. The offering is being made pursuant to a combined prospectus with respect to two effective shelf registration statements, filed by TXO with the Securities and Exchange Commission ("SEC"). The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the prospectus supplement may be obtained from any of the following sources:

Raymond James & Associates, Inc.

Attention: Syndicate

880 Carillon Parkway

St. Petersburg, Florida 33716

Telephone: (800) 248-8863

Email: prospectus@raymondjames.com

 

Stifel, Nicolaus & Company, Incorporated

Attention: Syndicate Department

1201 Wills Street, Suite 600

Baltimore, Maryland 21231

Telephone: (855) 300-7136

Email: syndprospectus@stifel.com

 

Capital One Securities, Inc.

Attention: ECM Syndicate Operations

201 St. Charles Avenue, Suite 1830

New Orleans, Louisiana 70170

Telephone: 800-666-9174

Email: cos-operations@capitalone.com

 

Mizuho Securities USA LLC
1271 Avenue of the Americas 3rd Fl.,
New York, New York 10020
Attn: Equity Capital Markets

Email: US-ECM@mizuhogroup.com

 

TCBI Securities, Inc., doing business as Texas Capital Securities

Attention: Prospectus Department

2000 McKinney Avenue, 7th Floor

Dallas, Texas 75201

Telephone: (866) 355-6329

Email: prospectus@texascapital.com

 

You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at www.sec.gov.