Each one in plain English, with the numbers worked through for a shareholder.
16 Dec 2019material agreement▲ GoodMajor
The follow-on stock offering registered earlier in December 2019 closed on 2019-12-16: 11,000,000 Class A shares at $18.10, of which the company sold 6,000,000 and selling stockholders sold 5,000,000. The underwriters also exercised in full their option for 1,650,000 additional shares from the selling stockholders. The company received about $103.6 million net, which it plans to put into Brigham Minerals Holdings, LLC to repay its revolving credit facility debt and fund future mineral and royalty acquisitions; it got no proceeds from the selling stockholders' shares.
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial MNRL Sub Inc. shareholding (10.21% of votes).
YT BRIGHAM CO INVESTMENT PARTNERS, LP, YT BRIGHAM COMPANY LP, YT BRIGHAM ASSOCIATES LLC disclosed a new substantial MNRL Sub Inc. shareholding (11.30% of votes).
YORKTOWN ENERGY PARTNERS XI, L.P, YORKTOWN XI COMPANY LP, YORKTOWN XI ASSOCIATES LLC disclosed a new substantial MNRL Sub Inc. shareholding (6.00% of votes).
YORKTOWN ENERGY PARTNERS X, L.P, YORKTOWN X COMPANY LP, YORKTOWN X ASSOCIATES LLC disclosed a new substantial MNRL Sub Inc. shareholding (13.70% of votes).
The corporate plumbing behind Brigham Minerals' April 2019 flotation: a master reorganization that recapitalised Brigham Minerals Holdings, pushed the pre-IPO owners' interests down into it directly, and set up the usual two-class structure - the listed company contributed its offering proceeds for 14.5 million holding-company units and handed 28,777,802 Class B shares to the legacy owners, who now hold economics through the LLC rather than the listed shares.
