PHILADELPHIA — In a move that signals significant consolidation in the natural resources sector, WhiteHawk Income Corporation has announced that its tender offer for PHX Minerals Inc. (NYSE: PHX) has been overwhelmingly accepted. According to data compiled as of June 20, 2025, approximately 73.8% of PHX shares have been tendered into the offer, paving the way for WhiteHawk to finalize the acquisition on Monday, June 23, 2025, as per existing agreements. The depositary for the tender offer, Computershare Trust Company, N.A., has confirmed solid participation with nearly 28.9 million shares tendered.
About WhiteHawk Energy, LLC
WhiteHawk Energy, LLC has established itself as a focused player in acquiring mineral and royalty interests within premier natural gas plays, including the Marcellus Shale and Haynesville Shale. With the guidance of a veteran management team, the company has a proven track record in the sector, having overseen the growth of assets worth over $13 billion in minerals, midstream operations and exploration and development. The company currently oversees an approximate 1,350,000 gross acre unit, with interests in over 3,400 producing horizontal wells in areas that are key to the Marcellus Shale and Haynesville Shale.
About PHX Minerals Inc.
PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements about WhiteHawk and PHX. These statements reflect the current expectations of WhiteHawk and involve inherent risks and uncertainties. Words like “anticipates,” “will,” and similar expressions are intended to identify these forward-looking claims. Such items are likely to be influenced by factors beyond WhiteHawk’s control, which could lead to outcomes materially different from expectations. Risks could also include delays in closing the transaction, problems in integrating the combined operations, or adverse economic conditions in the regions where either company does business.
Additional Information about the Acquisition and Where to Find It
This is for informational purposes. It does not constitute an offer to purchase or a solicitation of an offer to sell shares of PHX. The tender offer is subject to definitive materials filed with the SEC. Investors should read these documents for complete information. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC’s website.
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