Brief: Desert Peak Minerals And Falcon Minerals Corporation To Combine In $1.9 Billion All-Stock Merger

Sitio Royalties

12/01/2022 14:19

Jan 12 (Reuters) - Falcon Minerals Corp  FLMN.O :
    * DESERT PEAK MINERALS AND FALCON MINERALS CORPORATION TO
COMBINE
IN $1.9 BILLION ALL-STOCK MERGER
    * FALCON MINERALS CORP - FALCON WILL ISSUE 235 MILLION
SHARES OF
CLASS C COMMON STOCK TO DESERT PEAK’S EQUITYHOLDERS
    * FALCON MINERALS CORP - EXISTING SHAREHOLDERS WILL OWN
ABOUT 27%
OF COMBINED COMPANY, AND DESERT PEAK’S EQUITYHOLDERS WILL OWN
ABOUT 73%
    * FALCON MINERALS CORP - TRANSACTION IS EXPECTED TO BE
ACCRETIVE
TO FALCON SHAREHOLDERS ON A CASH FLOW PER SHARE BASIS FOR 2022
    * FALCON MINERALS CORP - COMBINED COMPANY TO BE MANAGED BY
THE
DESERT PEAK TEAM, AND WILL BE HEADQUARTERED IN DENVER, COLORADO
    * FALCON MINERALS CORP - COMBINED COMPANY WILL BE LED BY
DESERT
PEAK’S CURRENT CEO, CHRISTOPHER CONOSCENTI
    * FALCON MINERALS CORP - NOAM LOCKSHIN  WILL SERVE AS
CHAIRMAN OF
THE BOARD OF DIRECTORS OF COMBINED CO
    * FALCON MINERALS CORP - DESERT PEAK’S EQUITYHOLDERS MAY
RECEIVE
ADDITIONAL EQUITY CONSIDERATION, SUBJECT TO CERTAIN EXCEPTIONS
    * FALCON MINERALS - COMBINED CO WILL HAVE AN INITIAL EQUITY
MARKET
CAPITALIZATION OF ABOUT $1.76 BILLION AND ENTERPRISE VALUE OF
APPROXIMATELY $1.92 BILLION
    * FALCON MINERALS CORP - IMMEDIATELY PRIOR TO CLOSING OF
TRANSACTION, FALCON WILL EXECUTE A 1-FOR-4 REVERSE STOCK SPLIT

Source text for Eikon:  ID: 
Further company coverage:  FLMN.O 

 ((Reuters.Briefs@thomsonreuters.com;))