Northern Oil and Gas, Inc. (NYSE: NOG) has announced a cash tender offer for its outstanding 8.125% senior notes due 2028. The offer, which is set to expire on September 26, 2025, offers a tender consideration of $1,015 per $1,000 principal amount of notes accepted for purchase.
The company has also stated that payments for the purchased notes will include accrued and unpaid interest from the last interest payment date up to, but excluding, the settlement date, which is expected to occur on October 1, 2025. The offer is contingent upon the company's consummation of a concurrent bond offering announced, and the receipt of net proceeds therefrom.
Notably, the offer is not conditioned on any minimum amount of notes being tendered, and the company retains the sole discretion to amend, extend, or terminate the offer. Following the consummation of the offer, if 10% or less of the principal amount of the notes remain outstanding, the company expects to redeem any notes that are not tendered and accepted for purchase.
The company has retained Wells Fargo Securities, LLC as the dealer manager for the offer, and questions regarding the offer should be directed to Wells Fargo Securities, LLC. Additionally, requests for copies of the offer documents should be directed to D.F. King & Co., Inc., the tender agent and information agent for the offer.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy or an offer to purchase or sell any securities. Neither this press release nor the offer documents is an offer to sell or a solicitation of an offer to buy debt securities in the new financing or any other securities. 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. (NOG) is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. The press release contains forward-looking statements regarding future events and the company’s future results. Following these announcements, the company's shares moved -0.54%, and are now trading at a price of $24.925. For more information, read the company's full 8-K submission here.
