Akin Advises Vital Energy on Acquisition of Assets in the Permian Basin
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(Houston) – Akin advised Vital Energy, an independent upstream energy company, in its definitive agreements with Henry Energy LP, Henry Resources LLC, Tall City Property Holdings III LLC and Maple Energy Holdings, LLC to acquire assets that add scale in the Permian Basin.
As part of the transactions, Akin advised Vital Energy on two securities offerings and a credit agreement including:
- A $900 million upsized registered underwritten offering, comprised of $400 million of 10.125% senior unsecured notes due 2028 and $500 million of 9.750% senior unsecured notes due 2030
- A $148.5 million upsized underwritten public offering of 2,750,000 shares of its common stock
- Increasing its credit facility borrowing base by $200 million and elected commitment by $250 million to finance its asset acquisitions
The Akin team was led by corporate partner Christopher Centrich, and included fellow corporate partners Chip Cowell, Patrick Hurley and Eric Munoz; tax partner Alison Chen; corporate senior counsel Alexandra Reuss; corporate counsel Dasha Hodge and Kevin Schott; tax counsel Aaron Vera and corporate associates Mary Day Royston, Madeline Sullivan, Marissa Etter, Bryce Couch, Grace Seidl, Cameron Jones and Andrew McDonough.
More details on the transaction can be found here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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