10:35 AM EST, 02/06/2025 (MT Newswires) -- Mach Natural Resources ( MNR ) said Thursday it plans to sell 12.9 million common units at $15.50 each in a public offering.

Underwriters were granted an option to acquire up to 1.9 million additional units at the same price, minus discounts and commissions, the company said.

The company expects net proceeds of about $192.5 million, which will be used to repay roughly $23 million of borrowings under a "super priority" credit facility and repay part of its term loan credit facility, with the balance to be settled using cash and a new credit facility, it added.

The offering is expected to close Friday, according to the company.

Shares were down about 8.6% in recent trading.

Price: 15.70, Change: -1.48, Percent Change: -8.61