Phoenix Energy's New Trading Journey Begins on NYSE American
Phoenix Energy One, LLC is pleased to announce that their Series A Cumulative Redeemable Preferred Shares will officially commence trading on NYSE American LLC under the ticker symbol "PHXE.P." This exciting development signifies an important step for the company as it expands its visibility and accessibility to investors.
The initial public offering resulted in the successful raise of over $54 million through the sale of approximately 2.7 million Preferred Shares, priced publicly at $20.00 each. This funding is essential for supporting the company’s ongoing operations and strategic initiatives.
Details of the Preferred Share Offering
According to the terms established for these Preferred Shares, holders will be eligible for a short initial distribution of $0.11111 per share. This distribution is set to be paid out shortly, creating immediate returns for investors who are part of this thrilling new phase in Phoenix Energy's endeavors.
In overseeing this successful launch, Digital Offering LLC served as the lead selling agent, showcasing their expertise in managing public offerings. The legal aspects of the offering were expertly handled by Latham & Watkins LLP, demonstrating a strong collaborative effort in this capital-raising initiative.
Commentary from Leadership
Mark Elenowitz, Managing Director of Digital Offering LLC, expressed his enthusiasm about Phoenix Energy's trajectory. He noted, "We are truly excited for Phoenix Energy to begin trading under PHXE.P on the NYSE American. The team at Phoenix Energy successfully ran their Preferred Share IPO on a tight timeline of just over three weeks while other deals in the market were struggling to gain traction. It was impressive to see what their team is capable of.” His words reflect the confidence held in the company as it transitions into this new trading environment.
About Phoenix Energy
Established in 2019, Phoenix Energy is an innovative energy company focused on oil and gas exploration and production across vital U.S. basins. The company has a significant presence in the Williston Basin, strategically operating with a dynamic approach that includes direct drilling, royalty acquisition, and non-operated working interests.
With its headquarters in Irvine, CA, the company has expanded its footprint with additional offices in states like Colorado, Texas, Florida, Wyoming, and North Dakota. Phoenix Energy’s diverse locations support an employee base of more than 165 individuals, illustrating its commitment to growth and operational excellence.
Contact Information
For those interested in learning more about Phoenix Energy or wishing to get in touch, the company offers the following contact details:
Investor Relations
email: investorrelations@phoenixenergy.com
Phone: 303.376.9778
Conclusion
Phoenix Energy’s debut on the NYSE American signifies more than just a listing; it represents the company’s commitment to transparency and growth within the energy sector. As they continue to explore and produce energy solutions, investors and stakeholders alike will be keenly observing how this journey unfolds under the new ticker symbol PHXE.P.
Frequently Asked Questions
What is the ticker symbol for Phoenix Energy on the NYSE American?
Phoenix Energy will trade under the ticker symbol “PHXE.P” on the NYSE American.
How much capital was raised during the public offering?
The company raised over $54 million through the sale of 2,704,023 Preferred Shares.
When is the initial distribution expected to be paid?
The initial distribution of $0.11111 per share is expected to be payable on October 15, 2025.
Who acted as the selling agent for the initial public offering?
Digital Offering LLC acted as the lead selling agent for Phoenix Energy's IPO.
What sectors does Phoenix Energy operate in?
Phoenix Energy focuses on oil and gas exploration and production, targeting key U.S. basins.
