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Denver-based BKV Corp. priced on Sept. 25 an IPO of 15 million shares of common stock at $18 per share, which would generate $270 million in gross proceeds.
The Barnett Shale E&P's shares will begin trading on the New York Stock Exchange on Sep. 26. The offer is expected to close Sept. 27 and the shares will begin trading under the ticker “BKV.”
Earlier this month, gas producer BKV said it expected to price the offering at $19 to $21 per share.
BKV first filed for an IPO with the Securities and Exchange Commission in November 2022 but delayed a launching due to steadily crumbling natural gas prices and geopolitical instability.
Underwriters will have a 30-day option to purchase an additional 2.25 million shares at the public price, less underwriting discounts and commissions.
Citigroup and Barclays acted as lead book-running managers for the offering. Evercore ISI, Jefferies and Mizuho acted as joint book-running managers.
KeyBanc Capital Markets, Susquehanna Financial Group, LLLP, TPH&Co., the energy business of Perella Weinberg Partners and Truist Securities acted as senior co-managers. Citizens JMP and SMBC Nikko acted as co-managers for the offering.
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