Civitas Resources, Inc. Announces Pricing of Secondary Public Offering of Common Stock By An Affiliate of Canada Pension Plan Investment Board

May 16, 2024 | blog

DENVER–(BUSINESS WIRE)–Civitas Resources, Inc. (NYSE: CIVI) (Civitas or the Company) introduced as we speak the pricing of an underwritten public providing of an combination of 6,956,520 shares of its widespread inventory (the Offering) by an affiliate of Canada Pension Plan Investment Board (the Selling Stockholder) at a value to the general public of $73.80 per share. Civitas shouldn’t be promoting any shares of widespread inventory within the Offering and won’t obtain any proceeds from any sale of shares by the Selling Stockholder. The Offering is predicted to shut on May 20, 2024, topic to customary closing circumstances.

BofA Securities is appearing as sole underwriter for the Offering. The underwriter might provide the shares of widespread inventory infrequently on the market in a number of transactions on the New York Stock Exchange, within the over-the-counter market, by means of negotiated transactions, or in any other case at market costs prevailing on the time of sale, at costs associated to prevailing market costs, or at negotiated costs. The underwriter could have a 30-day choice to buy as much as a further 1,043,478 shares of widespread inventory from the Selling Stockholder.

A registration assertion relating to those securities has been filed with the U.S. Securities and Exchange Commission (the SEC) and was efficient upon submitting. The Offering is being made solely by the use of a prospectus complement and accompanying base prospectus. Before investing, potential traders ought to learn the prospectus complement, the accompanying base prospectus, and the paperwork integrated by reference therein for extra full details about the Company and the Offering. Copies of the preliminary prospectus complement and accompanying base prospectus referring to the Offering, in addition to copies of the ultimate prospectus complement as soon as out there, could also be obtained from BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by electronic mail at

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This press launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any securities, nor shall there be any sale of any securities in any state or jurisdiction during which such provide, solicitation, or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.

About Civitas

Civitas Resources, Inc. is an impartial, home oil and gasoline producer targeted on improvement of its premier belongings within the Denver-Julesburg (DJ) and Permian Basins. Civitas has a confirmed enterprise mannequin combining capital self-discipline, a powerful stability sheet, money movement technology and sustainable money returns to shareholders. Civitas employs main ESG practices and is Colorado’s first carbon impartial oil and gasoline producer.

Forward-Looking Statements and Cautionary Statements

Certain statements on this press launch, together with people who specific perception, expectation, or intention, are forward-looking statements based mostly on assumptions at present believed to be legitimate. Forward-looking statements are all statements apart from statements of historic information. The phrases anticipate, imagine, guarantee, anticipate, if, intend, estimate, possible, mission, forecasts, predict, outlook, intention, will, might, ought to, would, potential, might, may, anticipate, doubtless, plan, positioned, technique, and related expressions or different phrases of comparable which means, and the negatives thereof, are supposed to establish forward-looking statements. Specific forward-looking statements embody statements concerning the Company’s plans and expectations with respect to the Offering, together with the anticipated closing of the Offering. The forward-looking statements are supposed to be topic to the secure harbor offered by Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

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The Company cautions traders that any forward-looking statements are topic to recognized and unknown dangers and uncertainties, lots of that are exterior the Company’s management, and which can trigger precise outcomes and future tendencies to vary materially from these issues expressed in, or implied or projected by, such forward-looking statements, which converse solely as of the date they’re made. Investors are cautioned to not place undue reliance on these forward-looking statements. Risks and uncertainties that would trigger precise outcomes to vary from these described in forward-looking statements embody, with out limitation, Civitas’ future monetary situation, outcomes of operations, technique and plans; adjustments in capital markets and the power of Civitas to finance operations within the method anticipated; the consequences of commodity costs; the dangers of oil and gasoline actions; and the truth that working prices and enterprise disruption could also be better than anticipated.

Additional info regarding different elements that would trigger outcomes to vary materially from these described above will be discovered below Item 1A. Risk Factors and Management’s Discussion and Analysis sections within the Company’s Annual Report on Form 10-Okay for the 12 months ended December 31, 2023, subsequently filed Quarterly Reports on Form 10-Q, Current Reports on Form 8-Okay, and different filings made with the SEC, every of which is on file with the SEC.

All forward-looking statements converse solely as of the date they’re made and are based mostly on info out there on the time they have been made. The Company assumes no obligation to replace forward-looking statements to mirror circumstances or occasions that happen after the date the forward-looking statements have been made or to mirror the incidence of unanticipated occasions besides as required by federal securities legal guidelines. As forward-looking statements contain important dangers and uncertainties, warning needs to be exercised towards inserting undue reliance on such statements.

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Investor Relations:
Brad Whitmarsh, 832.736.8909,
Kara English, 303.312.8790,

Rich Coolidge,

Source: Civitas Resources, Inc.

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