LONDON, UK / ACCESSWIRE / June 6, 2018 / If you appetite admission to our chargeless analysis address on Osprey Activity Accretion Corp. (NASDAQ: OSPR) (“Osprey”), all you charge to do is assurance up now by beat the afterward articulation www.active-investors.com/registration-sg/?sym=OSPR as the Company’s latest account hit the wire. On June 04, 2018, the Aggregation appear that it has active an acceding with Blackstone Activity Partners and Blackstone Basic Partners, which are clandestine disinterestedness businesses of The Blackstone Group L.P. (NYSE: BX) (“Blackstone”) to admission all the assets of Royal Resources. Royal Resources is a Aggregation endemic by funds managed by Blackstone and represents the absolute mineral interests of Blackstone in the Eagle Ford Shale. Register today and get admission to over 1,000 Chargeless Analysis Letters by aing our armpit below:
Active-Investors.com is focused on giving you appropriate advice and the central band on companies that amount to you. This morning, The Osprey Activity Accretion and The Blackstone Group best contempo account is on our alarm and our aggregation absitively to put out a absurd address on the aggregation that is now accessible for chargeless below:
Details of the Transaction
As per the acceding of the agreement, Osprey will admission the assets of Royal Resources from Blackstone and anatomy a new publicly-traded Company. Osprey will be renamed as Falcon Minerals Corp. (“FMC”) afterwards the accretion and will accept an action amount of about $894 million. The operating assets of FMC will be captivated in a abstracted bound affiliation which will be called Falcon Minerals Operating Partnership. Osprey has agreed to pay Blackstone $400 actor in banknote added 40 actor of accustomed units of Falcon Minerals Operating Partnership, including an according cardinal of Class C accustomed shares of FMC. Each accustomed assemblage of Falcon Minerals Operating Partnership, including one allotment of Class C FMC share, will be according to one Class A FMC share.
The acceding provides for an added acquittal of 10 actor accustomed units of Falcon Minerals Operating Affiliation to Blackstone if the FMC Class A allotment trades over $12.50 per allotment for 30 canicule on a volume-weighted boilerplate basis, as able-bodied as an added acquittal of 10 actor accustomed units of Falcon Minerals Operating Affiliation if the FMC Class A allotment trades over $15 per allotment for 30 canicule on a volume-weighted boilerplate basis.
In adjustment to accounts the deal, Osprey affairs to accession about $115 actor via clandestine adjustment of about 11.5 actor Class A shares admired at $10 per share; about $275 actor of banknote in hand; added about $500 actor from debt. The investors and banking institutions of the Aggregation accept active agreements for not affairs their Osprey shares till the accretion of Royal Resources’ assets are completed. The accord has been accustomed by the Board of Admiral of Osprey and awaits the approval of Osprey’s shareholders. The Aggregation expects to account FMC Class A shares on the New York Banal Barter already the transaction is completed.
On achievement of the transaction, Blackstone will own about 47% pale and Osprey’s shareholders will own the antithesis 53% pale in FMC. The administration of FMC will be led by Osprey’s administration aggregation consisting of Jonathan Cohen, Edward Cohen, and Daniel Herz. The FMC Board will accept absolute of 11 members, out of which 6 will be assembly from Blackstone, 2 will be assembly of Osprey’s architect shares, and 3 will be absolute directors.
Commenting on the accumulation of FMC, Jonathan Z. Cohen, Chief Executive Officer (CEO) of Osprey, said:
“There is a amazing befalling to body on this accomplished business by utilizing our amoebic advance and accretion abilities in a awful burst oil and gas minerals industry, and we are captivated to accomplice with Blackstone and account from their all-inclusive acquaintance in the sector.”
Angelo Acconcia, Senior Managing Director, Clandestine Disinterestedness Group, Oil & Gas sector, Blackstone, added:
“We accept accustomed Jonathan, Ed, and Daniel for abounding years and are aflame to accomplice with them to advance Falcon Minerals.”
Benefits of the Deal
The anew formed FMC is accustomed to actualize a unique, aerial growth, core-of-the-core oil and gas minerals Company. FMC will own mineral, royalty, and over-riding ability interests for about 251,000 gross assemblage mineral acreage in the Eagle Ford and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas. ConocoPhillips, EOG, and BHP/Devon are the three ample operators on FMC’s acreage and these Companies accord over 90% of assets value. FMC is accustomed to accept about 85% of its assets amount in over 3,000 locations, which accomplish IRRs to operators in balance of 100%. The net assembly was 4,764 boe per day in Q1 2018, which has added to 7,000 boe per day afterwards new wells accept appear on line. FMC expects that the net assembly would be about 6,352 boe per day for FY18. FMC expects to accept banknote margins aloft 90% and affairs to administer all of its chargeless banknote flow. FMC expects to pay an antecedent banknote allotment of $0.90 per allotment per year already the transaction is completed. The new Aggregation expects that its liquids assembly will be over 73% and acquirement from oil will be over 80%. FMC additionally expects to accept able financials accustomed its aerial banknote flows and no basic amount or absolute operating expenses.
About Osprey Activity Accretion Corp.
Philadelphia, Pennsylvania-based Osprey is an energy-focused appropriate purpose accretion Company. The basic purpose of the Aggregation is to aftereffect merger, basic banal exchange, asset acquisition, banal purchase, reorganization, or agnate business aggregate with one or added businesses in the activity industry that may accommodate opportunities for adorable returns. The Aggregation completed its $275 actor antecedent accessible alms in July 2017.
About The Blackstone Group L.P.
Founded in 1985, New York-based Blackstone is one of the world’s arch advance firms. Its investments are done via clandestine equity, absolute estate, accessible debt and equity, non-investment brand credit, absolute assets, and accessory funds, globally. The advance aing has over $450 billion in assets beneath administration (AUM), with over 25 offices worldwide, and is accurate by a aggregation of about 2,300 employees.
Stock Achievement Snapshot
June 05, 2018 – At Tuesday’s closing bell, The Osprey Activity Acquisition’s banal concluded the trading affair collapsed at $10.10.
Volume traded for the day: 630.29 thousand shares, which was aloft the 3-month boilerplate aggregate of 124.77 thousand shares.
Stock achievement in the aftermost ages – up 4.99%; antecedent three-month aeon – up 5.21%; and year-to-date – up 5.21%
After yesterday’s close, The Osprey Activity Acquisition’s bazaar cap was at $13.53 million.
The banal is allotment of the Conglomerates sector, categorized beneath the Conglomerates industry.
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