Just saw this like 5 mins ago on my platform
By Adriano Marchese
Diversified Energy Holdings Inc. said Thursday that it intends to raise money through a fundraise to fund its acquisition of certain upstream assets from Blackbeard Operating, LLC. The company didn't specify how much it intends to raise in total, but said that through a retail offer portion of the fundraise, it will look to raise 8 million euros ($9.7 million) Diversified Energy said that the number of new shares it will issue as well as their price will be determined at the end of the bookbuild process. Regarding the acquisition, the company said it will pay an initial gross aggregate consideration of $180 million for the assets and related infrastructure . The acquisition of these upstream assets and related facilities provides a strategic entry into the gas-producing Cotton Valley and Haynesville area and the mature gas-producing Barnett Shale, located within the company's central regional focus area of Louisiana and Texas in the U.S., it said. Write to Adriano Marchese at adriano.marchese@wsj.com (END) Dow Jones Newswires May 20, 2021 12:20 ET (16:20 GMT) Copyright (c) 2021 Dow Jones & Company, Inc. Story ID: 20210520DN008922
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