Ascent Resources, LLC announced final results of its Dutch auction tender offer to buy up to $25 million in some of its common unit, showing 3.5 million units tendered at a purchase price of nearly $82 million.
Ascent Resources, LLC announced the final results and expiration of its previously announced “unmodified reverse Dutch auction” tender offer to purchase for cash up to $25.0 million of the Company’s Series A units and Series B units at a price per Common Unit not greater than $23.75, subject to applicable withholding and without interest.
The Tender Offer was made subject to certain terms and conditions as described in the offer to purchase, dated as of April 1, 2025 (as supplemented), and the related letter of transmittal.
As of 5:00 p.m. ET on April 29, 2025, valid tenders have been delivered with respect to a total of 3,511,825 Common Units. In accordance with the terms of the Tender Offer, including the Company’s right under federal securities laws to accept for purchase additional Common Units of each series up to an amount equal to two percent of the outstanding units of such series, the Company has accepted for purchase all validly tendered Common Units at prices ranging from $20.00 to $23.75 per Common Unit for an aggregate Purchase Price of $81.6 million.
The Company will pay the applicable Purchase Prices in cash, subject to applicable withholding and without interest, promptly after the Expiration Time, to unitholders whose Common Units were accepted for purchase pursuant to the Tender Offer. The Company will use cash on hand and/or borrowings available under the senior secured reserve-based revolving credit facility of its wholly owned subsidiary, Ascent Resources Utica Holdings, LLC, to fund the Settlement.
Source: press release
