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Granite Ridge Resources Inc. announced the launch of an underwritten registered secondary public offering of common stock by a third party, according to a Sept. 11 press release.
The offering is managed by Grey Rock Energy Management LLC of 7.1 million shares of its common stock. Granite Ridge will not sell any common stock in the offering and will not receive any proceeds from the sale by selling shareholders.
Grey Rock, a private equity firm, combined its assets with Granite Ridge in 2022.
The underwriters will have a 30-day option to purchase up to an additional 1.06 million shares of common stock from selling shareholders.
BofA Securities, Evercore ISI, Capital One Securities and Stephens Inc. are joint book-running managers for the offering.
Granite Ridge is a non-operated oil and gas E&P with a portfolio of wells and acreage across the Permian Basin and other U.S. shale plays.
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