Mach Natural Resources LP (NYSE:MNR) shares fell about 7% on Tuesday after the company disclosed the pricing of a secondary public offering of its common units.
The partnership said that selling unitholders Vepu Inc., Simlog Inc. and Sabinal Energy Operating, LLC priced an underwritten offering of 9,000,000 common units at $13.05 per unit. Mach’s units had closed at $14.06 on Monday.
Mach Natural Resources will not issue or sell any units in the transaction and will not receive proceeds from the sale, as the offering is being carried out entirely by existing unitholders.
The transaction is expected to close on April 8, 2026, subject to customary closing conditions.
The selling unitholders have also granted the underwriters a 30-day option to purchase up to an additional 1,350,000 common units. Morgan Stanley is serving as the underwriter for the offering.