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OKLAHOMA CITY, April 15, 2021 /PRNewswire/ PHX Minerals Inc. (NYSE: PHX) ( PHX or the Company ) announced today that it has agreed to acquire from certain third parties certain mineral and royalty interests totaling approximately 2,698 net royalty acres in the Southern SCOOP play (the Acquisition ) for $11,947,000 in cash and stock, subject to customary closing adjustments. The purchase price consists of $9,547,000 in cash and $2,400,000 in PHX common stock. PHX intends to raise the cash portion of the purchase price through an underwritten public offering of common stock (announced concurrently with this release). The stock issued in connection with the Acquisition will be subject to the same terms and conditions as the other subscribers for the offering. The Board of Directors of PHX unanimously approved the Acquisition. The effective date of the Acquisition is Nov. 1, 2020, and it is expected to close in late April.
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OKLAHOMA CITY, April 15, 2021 /PRNewswire/ PHX Minerals Inc. (NYSE: PHX) ( PHX or the Company ) announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock (the Common Stock Offering ). PHX also intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock.
PHX intends to use the net proceeds from the offering for a pending acquisition and for general corporate purposes.
Stifel is acting as the book-running manager for the offering, and Northland Capital Markets and Seaport Global Securities are acting as co-managers.
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State education board challenged by local school districts
The Daily Ardmoreite
School districts in southern Oklahoma are joining the fight against a decision by the state board of education to settle a lawsuit and change how charter schools are funded. At least two Carter County school districts have taken official steps challenging last month’s action by the Oklahoma State Board of Education.
The Dickson Public School Board of Education on Monday voted unanimously to demand the state board of education rescind the March 25 vote to settle a lawsuit brought by the Oklahoma Public Charter School Association.
The Dickson school board also approved a measure to pursue legal action against the state school board’s decision to settle the 2017 lawsuit. The Lone Grove Public Schools Board of Education on Monday also approved legal action against the state board of education.
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The Norman City Council established a nomination committee for an empty ward seat, got an update on a missing persons case and moved forward a proposed Senior Wellness Center during its Tuesday meeting.
Ward 2 has a selection committee in place to begin the search for a new councilor after an abrupt resignation in March left the seat empty. Matt McGarry left the seat after he accepted a teaching position with Ivy League university, The Transcript reported previously.
The council voted unanimously to approve the consent docket members of the Ward 2 committee as follows: former Ward 2 Councilors Joe Carter, Aleisha Karjala and Richard Stawicki, Britton Perry â son of former Ward 2 Councilor David Perry â and non-voting member Ward 4 Councilor Lee Hall.