Kimbell Royalty Partners Prices Upsized Public Offering Of 10 Mln Units At $14.90/unit

(RTTNews) - Kimbell Royalty Partners LP (KRP) announced the pricing of its upsized public offering of 10 million common units representing limited partner interests, at a public offering price of $14.90 per common unit. The total gross proceeds of the offering, before underwriters' discounts and estimated offering expenses, will be approximately $149.0 million.

Kimbell has granted the underwriters an option to purchase up to 1.50 million additional common units at the public offering price less the underwriting discount and commissions. The offering is expected to close on January 9, 2025.

Kimbell noted that it plans to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility.