Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Legacy Reserves LP
Baird served as a co-manager on this offering
Legacy Reserves LP (NASDAQ: LGCY) (“Legacy Reserves” or the “Partnership”) recently completed a follow-on offering of 8,700,000 common units at a price of $24.80 per unit, generating gross proceeds of approximately $215.8 million. The Partnership intends to use the net proceeds from the offering to fund a portion of the purchase price of its pending $520 million acquisition of Permian Basin oil and natural gas properties from Concho Resources.
Legacy Reserves is an independent oil and natural gas limited partnership focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Mid-Continent and Rocky Mountain regions of the United States. Legacy Reserves is headquartered in Midland, Texas.