Infinity Natural Resources Announces IPO Pricing at $20 Per Share
Deal News | Jan 30, 2025 | Pearl Energy Investments
Infinity Natural Resources, Inc., an energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin, has announced the pricing of its initial public offering (IPO). The company plans to offer 13,250,000 shares of Class A common stock at $20.00 per share, with an option for underwriters to purchase an additional 1,987,500 shares. This IPO is anticipated to yield net proceeds of approximately $238.6 million, which the company intends to use primarily to repay indebtedness and for general corporate purposes. The shares will be traded on the New York Stock Exchange under the ticker symbol INR, with the offering expected to close by February 3, 2025. Various financial firms, including Citigroup and Raymond James, are serving as joint book-running managers for the offering. This IPO is a crucial step in Infinity's strategy to capitalize on their oil and gas assets in Ohio and Pennsylvania, despite potential risks highlighted by forward-looking statements in their prospectus filed with the SEC.
Sectors
- Energy
- Finance
Geography
- United States – Infinity Natural Resources is based in Morgantown, West Virginia, and operates in the Appalachian Basin regions of Ohio and Pennsylvania.
Industry
- Energy – Infinity Natural Resources operates in the energy sector, focused on hydrocarbon exploration and production.
- Finance – The article discusses an initial public offering, which involves raising capital through the financial markets.
Financials
- $20.00 – The price per share for Infinity's IPO.
- 13,250,000 shares – The number of shares initially offered in the IPO.
- $238.6 million – Expected net proceeds from the IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Infinity Natural Resources, Inc. | Target company | Company | A growth-oriented energy company focused on hydrocarbons in the Appalachian Basin. |
| Pearl Energy Investments | Private Equity Firm | Company | PE firm with investments in Infinity Natural Resources. |
| Citigroup | Joint Book-running Manager | Company | Leading financial institution managing the IPO. |
| Raymond James | Joint Book-running Manager | Company | Financial services company participating in the IPO management. |
| RBC Capital Markets | Joint Book-running Manager | Company | Part of the group managing the IPO. |
| U.S. Securities and Exchange Commission (SEC) | Regulatory Authority | Government | Regulatory body overseeing securities registration. |
| New York Stock Exchange | Stock Exchange | Company | Exchange where Infinity's shares will be listed. |