Kimbell Royalty Partners announced the pricing of its public offering of 7.25 million common units representing limited partner interests, according to an Aug. 2 press release.

The public offering price is $14.00 per common unit. The company anticipates total gross proceeds of approximately $101.5 million. Additionally, the underwriters have been given an option to purchase up to 1.087 million more units at the public offering price less the underwriting discount and commissions. The offering is anticipated to close on Aug. 7.

Kimbell intends to use the net proceeds to repay its outstanding borrowings under its revolving credit facility, according to the release.

Citigroup, BofA Securities, Truist Securities, Mizuho and RBC Capital Markets are joint-bookrunners managers for the offering. PNC Capital Markets, Keybanc Capital Markets, Stephens Inc., Stifel and TD Securities are acting as co-managers.