Northern Oil and Gas, Inc. (NYSE: NOG) has announced a cash tender offer for any and all of its outstanding 8.125% senior notes due 2028. The offer entails a tender consideration of $1,015 per $1,000 principal amount of notes accepted for purchase. The offer is contingent upon the company’s consummation of a concurrent bond offering and the receipt of net proceeds from the new financing.
If 10% or less of the principal amount of the notes remain outstanding following the new financing and the offer, the company expects to redeem any untendered notes at a price equal to the tender consideration. However, if more than 10% of the principal amount of the notes remain outstanding, the company anticipates redeeming the outstanding notes on or after March 1, 2026, at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest.
The offer is set to expire at 5:00 p.m., New York City time, on September 26, 2025, unless extended or earlier terminated. If the conditions to the offer, including the financing condition, are satisfied or waived, settlement for tendered notes is expected to occur on October 1, 2025.
The company has retained Wells Fargo Securities, LLC as the dealer manager for the offer, and D.F. King & Co., Inc. as the tender agent and information agent. Holders of the notes must make their own decision regarding whether to participate in the offer and the principal amount of notes as to which action is to be taken.
This press release does not constitute an offer to sell, a solicitation to buy, or an offer to purchase or sell any securities. Additionally, the offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction.
Northern Oil and Gas, Inc. is a real asset company focused on acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. As a result of these announcements, the company's shares have moved -4.57% on the market, and are now trading at a price of $25.06. If you want to know more, read the company's complete 8-K report here.
