WhiteHawk Energy has reiterated its proposal to acquire PHX Minerals Inc. at a price of $4.00 per share in an all-cash deal. This offer represents a premium of 19% over PHX's 90-day volume-weighted average price and a 17% premium over its 30-day volume-weighted average price.
WhiteHawk Energy has urged the PHX Board of Directors to enter discussions with the aim of finalizing the transaction, as there has been no engagement over the past 18 months.
Additionally, WhiteHawk disclosed that it currently holds approximately 2.5% of PHX's outstanding common stock.
