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

Kimbell Royalty Partners LP (KRP) has set the pricing for its expanded public offering, involving 10 million common units that represent limited partner interests. These units are priced at $14.90 each. Before accounting for underwriting discounts and estimated offering expenses, the offering is anticipated to generate gross proceeds of approximately $149 million. Kimbell has also provided the underwriters with an option to purchase up to an additional 1.5 million common units at the same public offering price, minus any underwriting discount and commissions. The anticipated closure date for this offering is January 9, 2025. Kimbell intends to use the net proceeds from this initiative to repay existing borrowings under its revolving credit facility.