Oil and gas company MorningStar Partners, also known as TXO Energy Partners (TXO), has set terms for a proposed $100M initial public offering.
TXO said in its latest filing that it is now looking to offer 5M units, representing limited partners interests, priced between $19 and $21, which would raise $100M if priced at the midpoint. Proceeds from the deal would go in part to pay down debt.
The oil company hopes to list its shares on Nasdaq under the symbol TXO. Bookrunners include Raymond James, Stifel, Janney Montgomery Scott and Capital One Securities.
TXO first filed for an IPO in November, seeking $100M.
Based in Fort Worth, Texas, TXO is focused on acquiring, developing and exploiting oil and gas reserves, primarily in the Permian Basin of Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.
TXO is one of several fossil fuel-associated companies that have filed to go public amid a global energy crisis. Other filers include BKV (BKV), Bounty Minerals (BNTY), Permex Petroleum (OTCQB:OILCF) and Elephant Oil (ELEP).
For more on TXO, check out Donovan Jones’s “TXO Energy Partners Starts IPO Process for Debt Paydown.”
Image and article originally from seekingalpha.com. Read the original article here.