15 Nov 2024capital raising announcement● NeutralMajor
On November 12, 2024 Coterra agreed to buy Franklin Mountain Energy for $1.5 billion in cash plus 40,894,925 new Coterra shares (subject to adjustments). Its Cimarex subsidiary separately agreed to buy assets from Avant Natural Resources and affiliates for $1.45 billion in cash. Neither deal depends on the other, and both need customary closing conditions. For shareholders, the Franklin Mountain share issuance would dilute existing holders (inference), and the filing does not describe the assets acquired.