News Releases

Baker Botts Represents Kimbell Royalty Partners in $57 Million Common Unit Offering

Release
Deal Description: Kimbell Royalty Partners, LP (NYSE:KRP) ("Kimbell") closed its public offering of 3,000,000 common units representing limited partner interests at a public offering price of $19.00 per common unit today. The total gross proceeds of the offering, before underwriters' discounts and estimated offering expenses, was approximately $57 million. Kimbell has granted the underwriters a 30-day option to purchase up to 450,000 additional common units.

Kimbell intends to use the net proceeds from the offering, including any net proceeds from the exercise of the underwriters' option to purchase additional common units, to repay a portion of the outstanding borrowings under its revolving credit facility. 

This offering comes on the heels of Kimbell’s earlier announcement that its federal income tax status change from that of a pass-through partnership to that of a taxable entity via a "check-the-box" election had become effective on September 24, 2018.

Baker Botts Lawyers/Office Involved:
Jason Rocha (Partner, Houston), Josh Davidson (Partner, Houston), Eileen Boyce (Senior Associate, Houston), Jennifer Gasser (Associate, Houston), and Steven Lackey (Associate, Houston).
 

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

Practices

Related Professionals