15 June 2023capital raising announcement● NeutralMajor
On June 14, 2023, Sitio issued 2,508,490 Class C shares and 2,508,490 Opco LP units in exchange for certain mineral and royalty interests. The filing does not state the value or the sellers' identity beyond naming Sierra Energy Royalties, LLC and Source Energy Permian II, LLC as parties to a registration rights agreement. The units can be swapped one-for-one into Class A shares, so this could add Class A shares over time (inference), and Sitio agreed to file for resale registration within 60 days.