04:43 PM EDT, 05/15/2024 (MT Newswires) -- Civitas Resources ( CIVI ) said late Wednesday a selling stockholder, an affiliate of the Canada Pension Plan Investment Board, began offering 6.96 million shares.

Civitas isn't selling shares or receiving any proceeds from the secondary offering.

BofA Securities, acting as sole underwriter, has a 30-day option to purchase up to 1.04 million additional shares from the selling stockholder, Civitas said.

Shares of Civitas fell 3.5% in after-hours activity.

Price: 73.77, Change: -2.70, Percent Change: -3.53