猎鹰矿业将在全股票交易中并入沙漠峰矿业

08:40 AM EST, 01/12/2022 (MT Newswires) -- Falcon Minerals (FLMN) said Wednesday it agreed to merge into Desert Peak Minerals in an all-stock deal, valuing the combined company at $1.9 billion.

As part of the deal, Falcon will issue 235 million of its class C shares to equityholders of Desert Peak. Upon close, Falcon's current shareholders will hold around 27% of the combined company, with Desert Peak equityholders owning the remaining 73%.

The deal is set to conclude in Q2, subject to shareholder and regulatory approvals. Blackstone, which holds 40.6% of the voting power at Falcon, has agreed to vote in favor of the transaction.

The Desert Peak team will oversee the combined company, based in Denver, Colorado. Desert Peak chief executive officer Christopher Conoscenti will lead this team. Noam Lockshin will become Chairman of the board at the combined company. Lockshin is a partner at Kimmeridge, which is the largest shareholder in Desert Peak as well as the combined company.

Also, right before deal close, Falcon plans to do a 1-for-4 reverse stock split. That and the deal will result in outstanding class A and class C common shares to be around 80 million shares.

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