PBT Land and Minerals set a subscription price of $28.08 a share and an Oct. 13 record date for its proposed rights offering, the company said Monday.
The subscription price equals 87.5% of the volume-weighted average price of Permian Basin Royalty Trust (PBT) units over the five trading days ended Friday, the company said.
The launch of the rights offering remains subject to regulatory clearance and will be announced separately.
Price: 32.77, Change: +1.20, Percent Change: +3.80
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