Permian Resources (NYSE: PR) withdraws Form S-3 after reorganization
Rhea-AI Filing Summary
Permian Resources Corporation filed a post-effective amendment to its Form S-3 registration statement to deregister any unsold securities and withdraw the registration. This follows a holding company reorganization in which a new entity, also named Permian Resources Corporation, became the direct parent of the former issuer.
Under a Master Reorganization Agreement, a merger subsidiary combined with Permian Resources Holdings Inc., leaving it as a wholly owned subsidiary of the new parent company. Stockholders automatically became stockholders of the new Permian Resources Corporation on a one-for-one basis, keeping the same number and class of shares, and the successor now trades on the NYSE under the ticker symbol “PR”.
Positive
- None.
Negative
- None.
FAQ
What does Permian Resources (PR) change in this post-effective amendment?
The company is filing a post-effective amendment to its Form S-3 to deregister any unsold securities and withdraw that registration statement, because the offerings under it have been terminated.
Why did Permian Resources (PR) terminate offerings under its Form S-3?
Permian Resources terminated offerings under the Form S-3 because of a holding company reorganization that made a new Permian Resources Corporation the direct parent of the prior issuer, which is now its wholly owned subsidiary.
How did the holding company reorganization affect Permian Resources shareholders?
When the merger closed, stockholders of Permian Resources Holdings Inc. automatically became stockholders of the new Permian Resources Corporation on a one-for-one basis, with the same number, class, and ownership percentage of shares they held immediately before the merger.
What is the relationship between Permian Resources Corporation and Permian Resources Holdings Inc. after the merger?
After the merger, the new Permian Resources Corporation is the direct parent company, and Permian Resources Holdings Inc. survives as its direct, wholly owned subsidiary.
On which exchange and ticker symbol does Permian Resources now trade?
The successor Permian Resources Corporation is the public company trading on the NYSE under the ticker symbol “PR”.
Does this filing register new securities for Permian Resources (PR)?
No. This filing is a post-effective amendment that removes previously registered but unsold securities from registration and withdraws the earlier Form S-3, rather than registering new securities.