EagleRock Land Launches IPO for 17.3M Shares on NYSE

Key Offering Details

EagleRock Land, LLC has announced the launch of its initial public offering, presenting 17.3 million Class A shares to the market. The anticipated price for the offering is set between $17.00 and $20.00 per share. The company has officially filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission.

Offering Structure and Management

The land management firm plans to give underwriters a 30-day option to buy up to an additional 2.595 million Class A shares at the initial public offering price. EagleRock has applied for its shares to be listed on the New York Stock Exchange and NYSE Texas under the ticker symbol "EROK". The offering is led by Goldman Sachs & Co. LLC, Barclays, and J.P. Morgan as lead book-running managers.

Company Assets and Market Position

EagleRock controls approximately 236,000 acres located in the Delaware and Midland sub-basins of the Permian Basin. Additionally, the company holds an interest in up to 70,000 acres connected to its water infrastructure assets in the Midland Basin. This portfolio establishes its significant presence in the energy sector.

Regulatory Status and Outlook

While the registration statement has been filed with the SEC, it has not yet become effective. According to regulations, the securities cannot be sold, nor can offers to buy be accepted, until the registration statement is declared effective. The offering will proceed only by means of a prospectus.

FAQ

Q: What is the proposed stock ticker for EagleRock Land, LLC?
A: The company has applied to list its shares under the ticker symbol "EROK".

Q: What is the price range for the EagleRock IPO?
A: The anticipated price is between $17.00 and $20.00 per share.

Q: Who are the lead managers for the offering?
A: Goldman Sachs & Co. LLC, Barclays, and J.P. Morgan are serving as the lead book-running managers.

Source: Investing.com