PermRock Royalty Trust’s initial public offering of 6,250,000 trust units

Vinson & Elkins advised PermRock Royalty Trust on the transaction

PermRock Royalty Trust (NYSE: PRT) launched its initial public offering of 6,250,000 trust units, representing an approximate 51.4% beneficial interest in the Trust, at an anticipated initial offering price between $19.00 and $21.00 per unit pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission. Boaz Energy II, LLC, the sponsor of the Trust, will be selling the units being offered. In addition, Boaz Energy intends to grant the underwriters a 30-day option to purchase up to an additional 937,500 trust units of the Trust at the initial public offering price, less underwriting discounts and commissions. The trust units have been authorized for listing on the New York Stock Exchange under the ticker symbol “PRT,” subject to official notice of issuance.

Wells Fargo Securities, Goldman Sachs & Co. LLC, UBS Investment Bank, Deutsche Bank Securities, Jefferies, Stifel and Oppenheimer & Co. are acting as joint book-running managers of the offering, with BB&T Capital Markets and Janney Montgomery Scott acting as co-managers.

The V&E corporate team was led by partners Dave Oelman (Picture) and Mike Telle with assistance from associates Anne Peetz, Eryn Roberts and David Lassetter. Also advising were partner Bryan Loocke, senior associate Alan Alexander and associate Erin Mitchell; and partners Jim Meyer and Ryan Carney and associate Glen Ellsworth.

Involved fees earner: David Palmer Oelman – Vinson & Elkins LLP; Eryn Roberts – Vinson & Elkins LLP; David Lassetter – Vinson & Elkins LLP; Erin Mitchell – Vinson & Elkins LLP; Anne Peetz – Vinson & Elkins LLP; Michael Telle – Vinson & Elkins LLP; James Meyer – Vinson & Elkins LLP; Ryan Carney – Vinson & Elkins LLP; Glen Ellsworth – Vinson & Elkins LLP; Alan Alexander – Vinson & Elkins LLP; Bryan Loocke – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: PermRock Royalty Trust;

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Author: Ambrogio Visconti