Riley Permian Announces Partial Distribution of Common Stock by Investor

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Rhea-AI Summary

On March 17, 2022, Riley Exploration Permian (NYSE American: REPX) announced a stock distribution of 400,000 shares made by Yorktown Energy Partners V to its partners after market close on March 16, 2022. Post-distribution, Yorktown V holds 215,784 shares (1.1% of total shares), while entities managed by Yorktown Partners own approximately 30% of Riley Permian. CEO Bobby D. Riley noted that the public float has increased to about 3.99 million shares, enhancing liquidity for investors.

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Increased public float to approximately 3.99 million shares, enhancing liquidity for investors.

Negative

None.

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03/17/2022 - 05:55 PM EDT

OKLAHOMA CITY, March 17, 2022 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian"), today announced that it was advised by Yorktown Energy Partners V, L.P. ("Yorktown V"), that Yorktown V distributed an aggregate of 400,000 shares of common stock of Riley Permian to Yorktown V's limited and general partners after the close of the stock market on March 16, 2022, in accordance with the terms of Yorktown V's partnership agreement.

After the distribution, Yorktown V, will own 215,784 shares of common stock of Riley Permian (1.1% of the total outstanding shares). Yorktown V has informed Riley Permian that the distributed shares can immediately be resold. Riley Permian has not independently confirmed whether any distributed shares have been sold. Following this distribution, funds and entities managed by Yorktown Partners LLC in the aggregate will own approximately 30% of the total outstanding shares of Riley Permian.

Commenting on this distribution, Bobby D. Riley, Chief Executive Officer of Riley Permian stated, "With this distribution, the public float of the Riley Permian's stock has increased to approximately 3.99 million shares, a noteworthy increase. Distributions such as this will continue to improve the liquidity available to investors in Riley Permian," he continued. "We appreciate the continued support of Yorktown."

About Riley Exploration Permian, Inc.

Riley Permian is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids. Riley Permian is listed on the NYSE American under the symbol "REPX." For additional information about Riley Permian, including filings with the Securities and Exchange Commission, please visit our website at www.rileypermian.com.

Investor Contact:
Rick D'Angelo
405-438-0126
IR@rileypermian.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/riley-permian-announces-partial-distribution-of-common-stock-by-investor-301505476.html

SOURCE Riley Exploration Permian, Inc.

FAQ

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What was the announcement made by Riley Exploration Permian on March 17, 2022?

Riley Exploration Permian announced a distribution of 400,000 shares of common stock by Yorktown Energy Partners V.

How many shares does Yorktown Energy Partners V own after the distribution?

After the distribution, Yorktown Energy Partners V owns 215,784 shares, which is 1.1% of the total outstanding shares.

What percentage of shares is owned by entities managed by Yorktown Partners after the stock distribution?

Entities managed by Yorktown Partners own approximately 30% of the total outstanding shares of Riley Exploration Permian.

How has the stock distribution affected Riley Permian's public float?

The distribution has increased the public float to approximately 3.99 million shares.

When was the stock distribution by Yorktown Energy Partners V executed?

The stock distribution was executed after the market closed on March 16, 2022.

Riley Permian Announces Partial Distribution of Common Stock by Investor