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Phoenix Energy (NYSE MKT: PHXE.P), an oil and gas exploration company operating in the Williston Basin, has announced its first distribution for Series A Cumulative Redeemable Preferred Shares following its successful IPO under Regulation A. The company will pay $0.11111 per share on October 15, 2025, to shareholders of record as of October 1, 2025.
Phoenix Energy primarily operates across key U.S. basins, with significant presence in North Dakota and Montana. The distribution details and shareholder rights are outlined in the Company's Third Amended and Restated Limited Liability Company Agreement, available on the SEC's website.
Phoenix Energy (NYSE:PHXE.P) announced the commencement of trading for its Series A Cumulative Redeemable Preferred Shares on the NYSE American exchange. The company successfully completed its IPO, raising $54.08 million through the sale of 2,704,023 Preferred Shares at $20.00 per share.
An initial distribution of $0.11111 per share will be paid on October 15, 2025, to shareholders of record as of October 1, 2025. Digital Offering LLC served as the lead selling agent, with Latham & Watkins LLP providing legal counsel for the IPO, which was notably completed in just over three weeks.
