Warburg Pincus Amends Ring Energy Stake
Ticker: REI · Form: SC 13D/A · Filed: Oct 9, 2024 · CIK: 1384195
| Field | Detail |
|---|---|
| Company | Ring Energy, Inc. (REI) |
| Form Type | SC 13D/A |
| Filed Date | Oct 9, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.001, $1.62 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, energy
Related Tickers: REI
TL;DR
WP just updated their Ring Energy (REI) stake - big move incoming?
AI Summary
On October 9, 2024, Warburg Pincus & Co. and its affiliates filed an SC 13D/A amendment regarding their holdings in Ring Energy, Inc. The filing details a significant change in beneficial ownership, with Warburg Pincus entities now holding a substantial stake in the company. This amendment likely reflects updated strategic positions or transactions involving Ring Energy, Inc.
Why It Matters
This filing indicates a significant shift in the ownership structure of Ring Energy, Inc., potentially signaling strategic changes or future actions by a major investment firm.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership by large investment firms can lead to significant stock price volatility and strategic shifts within the target company.
Key Players & Entities
- Warburg Pincus & Co. (company) — Filing entity and beneficial owner
- Ring Energy, Inc. (company) — Subject company
- 0001193125-24-235378 (filing_id) — Accession number for the filing
FAQ
What specific changes in beneficial ownership are detailed in this SC 13D/A filing?
The filing is an amendment to a previous SC 13D filing, indicating changes in the beneficial ownership of Ring Energy, Inc. by Warburg Pincus & Co. and its group members. Specific percentage changes or share counts are not detailed in the provided header information but are the core of such an amendment.
Who are the group members associated with Warburg Pincus in this filing?
The group members listed include Warburg Pincus (E&P) Energy GP, L.P., Warburg Pincus (E&P) Energy LLC, Warburg Pincus (E&P) XII LLC, Warburg Pincus (E&P) XII, L.P., and numerous other related entities such as Warburg Pincus LLC and various partnership structures.
What is the business of Ring Energy, Inc. according to the filing?
Ring Energy, Inc. is engaged in Crude Petroleum & Natural Gas extraction, with its Standard Industrial Classification code being 1311.
Where is Ring Energy, Inc. headquartered?
Ring Energy, Inc. is headquartered at 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380.
What is the filing date and the date as of which the change is reported?
The filing was made on October 9, 2024, and the date as of which the change is reported is also October 9, 2024.
Filing Stats: 4,832 words · 19 min read · ~16 pages · Grade level 11.5 · Accepted 2024-10-09 21:01:27
Key Financial Figures
- $0.001 — suer) Class A common stock, par value $0.001 per share (Title of Class of Securiti
- $1.62 — 00 shares of Common Stock at a price of $1.62 per share pursuant to Rule 144 under th
Filing Documents
- d877657dsc13da.htm (SC 13D/A) — 356KB
- 0001193125-24-235378.txt ( ) — 359KB
of the Schedule 13D is hereby amended and restated as follows
Item 5 of the Schedule 13D is hereby amended and restated as follows: (a) (b) The information relating to the beneficial ownership of the Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein and is as of the date hereof. Such information assumes there are 198,172,372 shares of Common Stock outstanding as of August 6, 2024, as reported on the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 6, 2024. On October 8, 2024, certain of the Reporting Persons sold an aggregate of 4,400,000 shares of Common Stock at a price of $1.62 per share pursuant to Rule 144 under the Securities Act of 1933 (the Rule 144 Sale ), including: 1,242,120 shares sold by Warburg Pincus Energy (E&P)-A, L.P.; 792,660 shares sold by WP Energy Stronghold Holdings, L.P.; 64,900 shares sold by WP Energy Partners Stronghold Holdings, L.P.; 75,020 shares sold by Warburg Pincus Energy (E&P) Partners-A, L.P.; 25,300 shares sold by Warburg Pincus Energy (E&P) Partners-B Stronghold, LLC; 803,990 shares sold by Warburg Pincus Private Equity (E&P) XII (A), L.P.; 19,294 shares sold by Warburg Pincus Private Equity (E&P) XII-D (A), L.P.; 29,194 shares sold by Warburg Pincus Private Equity (E&P) XII-E (A), L.P.; 52,580 shares sold by WP XII (E&P) Partners (A), L.P.; 1,147,058 shares sold by WP XII Stronghold Holdings, L.P.; 135,300 shares sold by Warburg Pincus XII (E&P) Partners-1, L.P.; and 12,584 shares sold by Warburg Pincus XII (E&P) Partners-2 Stronghold, LLC. Following the Rule 144 Sale, the shares of Common Stock are directly held as follows: 10,027,478 shares by Warburg Pincus Energy (E&P)-A, L.P.; 6,399,044 shares by WP Energy Stronghold Holdings, L.P.; 523,929 shares held by WP Energy Partners Stronghold Holdings, L.P.; 605,627 shares held by Warburg Pincus Energy (E&P) Partners-A, LP; 204,244 shares held by Warburg Pincus Energy (E&P) Partners-B Stronghold, LLC; 6,490,509 shares held by Warb