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LandBridge Company LLC ("LandBridge") closed its initial public offering of 14,500,000 Class A shares representing limited liability company interests ("Class A shares") at a price to the public of $17.00 per Class A share. In addition, the underwriters have exercised in full their 30-day option to purchase an additional 2,175,000 Class A shares at the public offering price, less underwriting discounts and commissions. The Class A shares began trading on the New York Stock Exchange ("NYSE") under the ticker symbol "LB" on June 28, 2024. In addition to the Class A shares sold in the offering, LandBridge sold 750,000 Class A shares at a price of $17.00 per Class A share in a concurrent private placement to an accredited investor (the "concurrent private placement"). The sale of the Class A shares in the concurrent private placement are exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Regulation D promulgated thereunder.
LandBridge received net proceeds of approximately $270.9 million from the offering and concurrent private placement, after deducting underwriting discounts and commissions, placement agent fees and offering expenses.
Posted In: LB
