Magnolia Oil & Gas plans USD 1 billion stock offering to fund WildFire Intermediate acquisition
MGY•Stock offering to help fund acquisition
Magnolia Oil & Gas launched an underwritten public offering of USD 1 billion of Class A common stock.
Net proceeds are earmarked to help fund cash consideration in Magnolia Operating’s planned acquisition of WildFire Intermediate Holdings.
Funding plan also includes proceeds from new senior notes, revolver borrowings, and cash on hand.
Underwriters will have a 30-day option to buy up to an additional USD 150 million of shares.
