Matador Resources Enters Material Definitive Agreement

TL;DR

Matador Resources just signed a big deal, expect financial moves.

AI Summary

On September 25, 2024, Matador Resources Company entered into a Material Definitive Agreement related to a direct financial obligation. The company, incorporated in Texas with its principal office in Dallas, is involved in crude petroleum and natural gas extraction.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Matador Resources, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial risks and obligations that require careful monitoring.

Key Players & Entities

• Matador Resources Company (company) — Registrant
• Texas (location) — State of Incorporation
• Dallas (location) — Business Address City
• September 25, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share MTDR New York Stock Excha
• $750.0 million — ch the Company agreed to issue and sell $750.0 million in aggregate principal amount of the Co
• $736.4 m — Notes (the "Offering") of approximately $736.4 million, after deducting the Initial Purc
• $100.0 million — es in the aggregate principal amount of $100.0 million or more; failure by the Company or an

Filing Documents

• tm2424667d1_8k.htm (8-K) — 44KB
• tm2424667d1_ex4-1.htm (EX-4.1) — 867KB
• tm2424667d1_ex99-1.htm (EX-99.1) — 17KB
• tm2424667d1_ex99-1img001.jpg (GRAPHIC) — 6KB
• 0001104659-24-102789.txt ( ) — 1274KB
• mtdr-20240925.xsd (EX-101.SCH) — 3KB
• mtdr-20240925_lab.xml (EX-101.LAB) — 33KB
• mtdr-20240925_pre.xml (EX-101.PRE) — 22KB
• tm2424667d1_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on September 20, 2024, Matador Resources Company (the "Company") and certain of its subsidiaries (the "Guarantors") entered into a purchase agreement with BofA Securities, Inc. ("BofA"), as representative of the several initial purchasers named therein (collectively, the "Initial Purchasers"), pursuant to which the Company agreed to issue and sell $750.0 million in aggregate principal amount of the Company's 6.250% Senior Notes due 2033 (the "Notes"). On September 25, 2024, the Company received net proceeds from the issuance and sale of the Notes (the "Offering") of approximately $736.4 million, after deducting the Initial Purchasers' discounts and estimated offering expenses. Indenture On September 25, 2024, the Company entered into an Indenture (the "Indenture") among the Company, the Guarantors and U.S. Bank Trust Company, National Association, as trustee, governing the terms of the Notes. Interest and Maturity The Notes will mature on April 15, 2033, and interest is payable on the Notes semiannually in arrears on each April 15 and October 15, and the first interest payment date for the Notes will be April 15, 2025. The Notes are guaranteed on a senior unsecured basis by the Guarantors. Optional Redemption At any time prior to April 15, 2028, the Company may redeem up to 40% of the aggregate principal amount of the Notes at a redemption price of 106.250% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, in an amount not greater than the net cash proceeds of certain equity offerings, so long as the redemption occurs within 180 days of completing such equity offering and at least 60% of the aggregate principal amount of the Notes remains outstanding after such redemption. In addition, at any time prior to April 15, 2028, the Company may redeem all or part of the Notes for cash at a redemption price equal to 100% of their princi

01

Item 7.01 Regulation FD Disclosure. On September 25, 2024, Matador issued a press release (the "Press Release") announcing the closing of the Offering and providing an operational update. A copy of the Press Release is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. This Current Report does not constitute an offer to sell nor a solicitation of an offer to buy any security, including the Notes, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 4.1 Indenture, dated as of September 25, 2024, by and among the Company, the Guarantors and U.S. Bank Trust Company, National Association, as trustee. 99.1 Press Release, dated September 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATADOR RESOURCES COMPANY Date: September 25, 2024 By: /s/ Bryan A. Erman Name: Bryan A. Erman Title: Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR