AUSTIN, Texas–(BUSINESS WIRE)–Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham Minerals”) announced today
the pricing of its upsized initial public offering of 14,500,000 shares
of its Class A common stock (“common stock”) at $18.00 per share. The
shares are expected to begin trading on the New York Stock Exchange
under the ticker symbol “MNRL” on April 18, 2019. In addition, Brigham
Minerals granted the underwriters a 30-day option to purchase up to an
additional 2,175,000 shares of its common stock. The offering is
expected to close on April 23, 2019, subject to customary closing
conditions.
Brigham Minerals intends to contribute the total net proceeds of
approximately $240.6 million, or $277.4 million if the underwriters
exercise in full their option to purchase additional shares, to its
subsidiary, Brigham Minerals Holdings, LLC (“Brigham LLC”) in exchange
for limited liability company units in Brigham LLC. Brigham LLC intends
to use a portion of the net proceeds to repay borrowings incurred under
its credit facility and the remainder to fund Brigham Minerals’ future
mineral and royalty interests acquisitions.
Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC acted as
lead book-running managers and Barclays Capital Inc., RBC Capital
Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC also
acted as book-running managers for the offering. The offering of these
securities will be 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 prospectus may be obtained from:
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
Eleven
Madison Avenue, 3rd floor
New York, NY 10010
Telephone:
1-800-221-1037
usa.prospectus@credit-suisse.com
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200
West Street
New York, NY 10282
Telephone: (866) 471-2526
prospectus-ny@ny.email.gs.com
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.
Important Information
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission
(the “SEC”). 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 closing of the initial
public offering and Brigham Minerals’ use of proceeds from the 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’ initial 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.
Contacts
At the Company:
Brigham Minerals, Inc.
Blake C. Williams
Chief
Financial Officer
(512) 220-6350
Or
For Investor and
Media Inquiries:
Lincoln Churchill Advisors
Julie D. Baughman
(512)
220-1500
InvestorRelations@brighamminerals.com
