Riley Exploration Permian Enters Material Definitive Agreement
Ticker: REPX · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1001614
| Field | Detail |
|---|---|
| Company | Riley Exploration Permian, Inc. (REPX) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $25.4 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, new-contract
TL;DR
Riley Exploration Permian signed a big deal on April 3rd, details TBD.
AI Summary
On April 3, 2024, Riley Exploration Permian, Inc. entered into a Material Definitive Agreement. The filing does not disclose the specific details of this agreement or any associated dollar amounts or parties involved.
Why It Matters
This filing indicates a significant new contract or partnership for Riley Exploration Permian, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the Material Definitive Agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Riley Exploration Permian, Inc. (company) — Registrant
- April 3, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Riley Exploration Permian, Inc. on April 3, 2024?
The filing states that Riley Exploration Permian, Inc. entered into a Material Definitive Agreement on April 3, 2024, but does not provide specific details about its nature.
Are there any specific dollar amounts mentioned in relation to the Material Definitive Agreement?
No, the filing does not mention any specific dollar amounts associated with the Material Definitive Agreement.
Who are the other parties involved in this Material Definitive Agreement?
The filing does not disclose the names of the other parties involved in the Material Definitive Agreement.
What is the purpose of this Material Definitive Agreement for Riley Exploration Permian, Inc.?
The purpose of the Material Definitive Agreement is not detailed in this filing.
When was the Material Definitive Agreement officially entered into?
The Material Definitive Agreement was entered into on April 3, 2024, which is the date of the earliest event reported.
Filing Stats: 958 words · 4 min read · ~3 pages · Grade level 11.9 · Accepted 2024-04-08 16:29:37
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value REPX NYSE American Indi
- $25.4 m — aggregate net proceeds of approximately $25.4 million, after deducting underwriting dis
Filing Documents
- ef20026258_8k.htm (8-K) — 35KB
- ef20026258_ex1-1.htm (EX-1.1) — 265KB
- ef20026258_ex5-1.htm (EX-5.1) — 18KB
- image00003.jpg (GRAPHIC) — 52KB
- 0001140361-24-018619.txt ( ) — 584KB
- repx-20240403.xsd (EX-101.SCH) — 4KB
- repx-20240403_lab.xml (EX-101.LAB) — 21KB
- repx-20240403_pre.xml (EX-101.PRE) — 16KB
- ef20026258_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On April 3, 2024, Riley Exploration Permian, Inc. (the "Company") entered into an Underwriting Agreement (the "Underwriting Agreement") with Bluescape Riley Exploration Holdings LLC, Yorktown Energy Partners VIII, L.P. and Riley Exploration Group, LLC (collectively, the "Selling Stockholders"), and Truist Securities, Inc. and Roth Capital Partners, LLC, as representatives of the other several underwriters listed in Schedule A to the Underwriting Agreement (collectively, the "Underwriters"), relating to a public offering of an aggregate of 2,100,000 shares of the Company's common stock, par value $0.001 per share ("Common Stock"), which includes 700,000 shares offered by the Company and 1,400,000 shares offered by the Selling Stockholders (the "Offering"). Under the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to 315,000 additional shares of Common Stock (the "Option Shares"). On April 5, 2024, the Underwriters exercised in full the option to purchase the Option Shares. The Offering, including the sale of the Option Shares, closed on April 8, 2024, with the Company receiving aggregate net proceeds of approximately $25.4 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for general corporate purposes, which may include financing acquisitions (including a pending acquisition of an approximate 12,500 net acre position in Eddy County, New Mexico for 100% cash consideration, which the Company anticipates funding primarily with proceeds from the Offering with any remaining balance funded through borrowings under the Company's revolving credit facility and expects will close in May 2024), repayment of outstanding debt, financing of capital expenditures, financing other investments or business opportunities, and general w
Financial Statements and Exhibits
Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated April 3, 2024, by and among Riley Exploration Permian, Inc., Bluescape Riley Exploration Holdings LLC, Yorktown Energy Partners VIII, L.P. and Riley Exploration Group, LLC, and Truist Securities, Inc. and Roth Capital Partners, LLC, as representatives of the several underwriters listed in Schedule A thereto . 5.1 Opinion of Holland & Knight LLP. 23.1 Consent of Holland & Knight LLP (included in Exhibit 5.1).
SIGNATURES
SIGNATURES 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. Date: April 8, 2024 RILEY EXPLORATION PERMIAN, INC. By /s/ Philip Riley Philip Riley Chief Financial Officer