04:04 AM EDT, 07/02/2024 (MT Newswires) -- LandBridge ( LB ) said late Monday it closed its initial public offering of 14.5 million class A shares at a price of $17 per share.

The underwriters fully exercised their 30-day option to buy an additional about 2.2 million shares. The shares started trading on the New York Stock Exchange under the symbol "LB" on June 28.

The company also sold 750,000 class A shares at $17 each in a concurrent private placement, it said.

LandBridge ( LB ) said it received net proceeds of about $270.9 million from the offering and concurrent private placement.

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