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.