WhiteHawk Income Corporation has filed to sell 6,925,000 shares of its Class A common stock in an initial public offering, with the proposed price set between $25.00 and $27.00 per share, according to the company statement.
Under terms disclosed in the filing, the company has provided the underwriting syndicate a 30-day option to acquire up to an additional 1,038,750 shares at the IPO price, less underwriting discounts. The firm has submitted an application to have its Class A shares listed on the New York Stock Exchange under the ticker symbol WHK.
As part of the corporate plan tied to the offering, WhiteHawk Income intends to change its corporate name to WhiteHawk Minerals Corp. once the offering is completed.
The joint lead bookrunners for the proposed offering are Raymond James & Associates, Stifel, Nicolaus & Company, and J.P. Morgan Securities. Capital One Securities and Stephens Inc. are identified as bookrunning managers, and Tuohy Brothers Investment Research is listed as a co-manager.
WhiteHawk has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission. The company noted that the registration statement has not yet become effective, and that the securities may not be sold prior to the effectiveness of that filing.
The offering will be conducted through a prospectus; preliminary copies of that document are available from the lead underwriters and through the SEC's website, the company said. Additional details and final terms will be set forth in the prospectus once the registration statement becomes effective.
Clear summary
WhiteHawk Income is offering 6,925,000 Class A shares at $25.00 to $27.00 each, with a 30-day greenshoe option for an extra 1,038,750 shares. The company has applied to list on the NYSE as WHK and plans a corporate name change to WhiteHawk Minerals Corp. The deal is being led by Raymond James & Associates, Stifel, Nicolaus & Company, and J.P. Morgan Securities. The registration statement on Form S-1 has been filed but is not yet effective, and the securities cannot be sold until effectiveness.
Sectors impacted
- Capital markets and equity issuance - the IPO process and underwriting activity
- Mining and minerals sector - implied by the planned corporate name change to WhiteHawk Minerals Corp.
- Financial services - underwriters and capital raising activity for public markets