Form 4: Riley Exploration Permian: Major Shareholders Sell 200,000 Shares in Secondary Offering

Riley Exploration Group, LLC, Yorktown Energy Partners IX, L.P., Yorktown IX Associates LLC, Yorktown Energy Partners X, L.P., and Yorktown X Associates LLC sold 200,000 shares of Riley Exploration Permian, Inc. common stock at $25.515 per share in a secondary offering.

Summary

• Riley Exploration Group, LLC, Yorktown Energy Partners IX, L.P., Yorktown IX Associates LLC, Yorktown Energy Partners X, L.P., and Yorktown X Associates LLC filed a Form 4 detailing changes in beneficial ownership of Riley Exploration Permian, Inc. [REPX] stock.
• On April 8, 2024, they sold 200,000 shares of common stock at a price of $25.515 per share.
• This transaction was part of an underwritten public offering, also known as a 'Secondary Offering'.
• The reported price of $25.515 reflects the public offering price of $27.00 per share, less an underwriting discount of $1.485 per share.
• Following the transaction, Riley Exploration Group, LLC directly owns 1,965,219 shares.
• Yorktown X directly owns 390,860 shares.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. A large shareholder selling a significant portion of their stake can sometimes be perceived negatively by the market, although it's a common practice.

Industry Context

Secondary offerings are a common way for major shareholders to reduce their positions in a company. The market will likely interpret the sale based on the size of the offering relative to the company's float and the stated reasons for the sale.

Stakeholder Impact

• Shareholders may react to the news of the sale, potentially impacting the stock price.
• The company itself is not directly impacted by this sale, as it's a transaction between shareholders and the market.

Key Dates