New trading symbol for Falcon Minerals?
New trading symbol for Falcon Minerals?
What is the new trading symbol for Falcon Minerals? Thank you.
Re: New trading symbol for Falcon Minerals?
Read this carefully first: https://finance.yahoo.com/news/falcon-m ... 00936.html
Trading of the Class A Common Stock on a reverse stock split-adjusted basis will begin at the opening of trading on Nasdaq on June 6, 2022 under the new name Sitio Royalties Corp. and the new ticker symbol "STR." The new CUSIP number for the Class A Common Stock following the reverse stock split is 82982V 101. The Company’s warrants will begin trading under the new symbol "STRDW" at the opening of trading on Nasdaq on June 6, 2022 with the new CUSIP 82982V 119.
Trading of the Class A Common Stock on a reverse stock split-adjusted basis will begin at the opening of trading on Nasdaq on June 6, 2022 under the new name Sitio Royalties Corp. and the new ticker symbol "STR." The new CUSIP number for the Class A Common Stock following the reverse stock split is 82982V 101. The Company’s warrants will begin trading under the new symbol "STRDW" at the opening of trading on Nasdaq on June 6, 2022 with the new CUSIP 82982V 119.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: New trading symbol for Falcon Minerals?
Wow, I sold all my position in this stock last week to buy more PXD and DVN for my dividend plays. Dumb luck. Glad I'm out of this stock.
Re: New trading symbol for Falcon Minerals?
I added to what was already a pretty large position in this on yesterday's pullback. I believe that was just a knee-jerk reaction to the reverse split. I believe that it is likely that they will provide initial guidance on the merged company in conjunction with the announcement of the completion of the merger, which is expected imminently. With oil and gas prices being so high I believe that the guidance will indicate that the stock is way undervalued at its current quote.
Re: New trading symbol for Falcon Minerals?
When the "noise" settles down Sitio Royalties Corp. (NASDAQ: STR) will be fine and it will be paying high quarterly dividends.
DENVER, June 07, 2022--(BUSINESS WIRE)--Desert Peak Minerals ("Desert Peak") and Falcon Minerals Corporation ("Falcon") today announced the successful completion of their merger, creating Sitio Royalties Corp. (Nasdaq: STR) (the "Company" or "Sitio"), a premier, shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across diversified operators.
With a proven track record of completing large, accretive acquisitions in the Permian Basin, Sitio is poised to become a top consolidator in the space. Guided by a disciplined financial philosophy and strong balance sheet, Sitio will focus on maximizing value for all stakeholders and returning significant cash to shareholders.
On June 3, 2022, prior to the consummation of the merger, Falcon effected a four-to-one reverse stock split of Falcon’s Class A common stock and Class C common stock and formally rebranded as Sitio Royalties Corp. The Company’s Class A common stock and warrants will initially continue trading on Nasdaq under the ticker symbols "STR" and "STRDW." In connection with the closing of the merger, the Company entered into a new credit facility with a $300 million borrowing base.
In accordance with the terms of the merger agreement, Desert Peak became a subsidiary of Falcon’s operating partnership ("OpCo"). Desert Peak’s equity holders received 61,905,339 shares of the Company’s Class C common stock and a corresponding number of common units representing limited partner interests in OpCo.
Chris Conoscenti, CEO of Sitio, said: "Sitio is guided by its commitments to best-in-class leadership and governance standards, capital discipline and a thoughtful approach to value-maximizing M&A. Sitio’s distinguished profile as a leading consolidator in the minerals and royalties space will only continue to strengthen over time with the execution of our proven strategy, focusing on large-scale accretive acquisitions across diversified operators."
Noam Lockshin, Chairman of Sitio’s Board of Directors, said: "In line with Kimmeridge’s operating philosophy, Sitio has already adopted a best-in-class governance model that is structured to drive long-term shareholder returns and strong alignment with all its stakeholders. When leadership and directors are incentivized to drive outperformance and to optimize shareholder returns, as they are at Sitio, everyone wins. We believe this is the backbone of any successful public company, and Sitio is leading the way in this space."
Sitio Senior Leadership Team and Board of Directors
As previously announced, Sitio will be managed by the legacy Desert Peak management team, led by current Chief Executive Officer, Christopher Conoscenti. Noam Lockshin, a Partner at Kimmeridge, Sitio’s largest equity holder, will serve as Chairman of the Board of Directors. The Board comprises seven members with strong independence, diversity and deep expertise across energy, finance and governance: Noam Lockshin, Morris R. Clark, Christopher L. Conoscenti, Alice E. Gould, Allen W. Li, Claire R. Harvey and Steven R. Jones.
Stock Exchange Listing Transfer
As previously announced, the Company plans to transfer the listing of its Class A common stock and warrants from Nasdaq to the New York Stock Exchange ("NYSE") and NYSE American LLC, respectively, on or about June 14, 2022, where the Company’s Class A common stock will retain the same ticker symbol "STR," and the warrants will trade under the new ticker symbol "STR WS." The Company’s Class A common stock and warrants will be delisted from Nasdaq in connection with listing on NYSE and NYSE American LLC.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 140,000 net royalty acres ("NRAs," when normalized to a 1/8th royalty equivalent) through the consummation of over 180 acquisitions to date. More information about Sitio, including an updated investor presentation, is available at www.sitio.com.
DENVER, June 07, 2022--(BUSINESS WIRE)--Desert Peak Minerals ("Desert Peak") and Falcon Minerals Corporation ("Falcon") today announced the successful completion of their merger, creating Sitio Royalties Corp. (Nasdaq: STR) (the "Company" or "Sitio"), a premier, shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across diversified operators.
With a proven track record of completing large, accretive acquisitions in the Permian Basin, Sitio is poised to become a top consolidator in the space. Guided by a disciplined financial philosophy and strong balance sheet, Sitio will focus on maximizing value for all stakeholders and returning significant cash to shareholders.
On June 3, 2022, prior to the consummation of the merger, Falcon effected a four-to-one reverse stock split of Falcon’s Class A common stock and Class C common stock and formally rebranded as Sitio Royalties Corp. The Company’s Class A common stock and warrants will initially continue trading on Nasdaq under the ticker symbols "STR" and "STRDW." In connection with the closing of the merger, the Company entered into a new credit facility with a $300 million borrowing base.
In accordance with the terms of the merger agreement, Desert Peak became a subsidiary of Falcon’s operating partnership ("OpCo"). Desert Peak’s equity holders received 61,905,339 shares of the Company’s Class C common stock and a corresponding number of common units representing limited partner interests in OpCo.
Chris Conoscenti, CEO of Sitio, said: "Sitio is guided by its commitments to best-in-class leadership and governance standards, capital discipline and a thoughtful approach to value-maximizing M&A. Sitio’s distinguished profile as a leading consolidator in the minerals and royalties space will only continue to strengthen over time with the execution of our proven strategy, focusing on large-scale accretive acquisitions across diversified operators."
Noam Lockshin, Chairman of Sitio’s Board of Directors, said: "In line with Kimmeridge’s operating philosophy, Sitio has already adopted a best-in-class governance model that is structured to drive long-term shareholder returns and strong alignment with all its stakeholders. When leadership and directors are incentivized to drive outperformance and to optimize shareholder returns, as they are at Sitio, everyone wins. We believe this is the backbone of any successful public company, and Sitio is leading the way in this space."
Sitio Senior Leadership Team and Board of Directors
As previously announced, Sitio will be managed by the legacy Desert Peak management team, led by current Chief Executive Officer, Christopher Conoscenti. Noam Lockshin, a Partner at Kimmeridge, Sitio’s largest equity holder, will serve as Chairman of the Board of Directors. The Board comprises seven members with strong independence, diversity and deep expertise across energy, finance and governance: Noam Lockshin, Morris R. Clark, Christopher L. Conoscenti, Alice E. Gould, Allen W. Li, Claire R. Harvey and Steven R. Jones.
Stock Exchange Listing Transfer
As previously announced, the Company plans to transfer the listing of its Class A common stock and warrants from Nasdaq to the New York Stock Exchange ("NYSE") and NYSE American LLC, respectively, on or about June 14, 2022, where the Company’s Class A common stock will retain the same ticker symbol "STR," and the warrants will trade under the new ticker symbol "STR WS." The Company’s Class A common stock and warrants will be delisted from Nasdaq in connection with listing on NYSE and NYSE American LLC.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 140,000 net royalty acres ("NRAs," when normalized to a 1/8th royalty equivalent) through the consummation of over 180 acquisitions to date. More information about Sitio, including an updated investor presentation, is available at www.sitio.com.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group