EagleRock Land, LLC (EROK), announced that it has priced its initial public offering of 17.3 million Class A shares at $18.50 each.
The Permian Basin land management royalty company expects to raise net proceeds of about $286.6 million, or $331.3 million if underwriters fully exercise their 30-day option to buy up to an additional 2.595 million shares.
The Class A shares are set to begin trading on the New York Stock Exchange and NYSE Texas, Inc. under the ticker "EROK" on May 14.
The offering is expected to close on May 15. Goldman Sachs & Co. LLC, Barclays and J.P. Morgan are acting as lead book-running managers for the offering.
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