Tender Offer

WhiteHawk Income Corporation’s tender offer for PHX Minerals Inc. has been largely accepted, with approximately 73.8% of PHX shares tendered. The acquisition is set to finalize on June 23, 2025. WhiteHawk, focused on acquiring mineral interests in key natural gas plays, will acquire PHX. The deal is subject to risk, including integration issues.

Global Partners LP plans a private offering of $400 million in senior unsecured notes due 2033 to refinance existing debt. Proceeds will fund a cash tender offer for outstanding 2027 notes, with any remaining notes redeemed around August 1, 2025. The offering is exclusively for qualified institutional buyers and non-U.S. persons. This strategic move aims to optimize Global’s capital structure and manage its debt profile.

Fannie Mae announced the results of its tender offers for specific Connecticut Avenue Securities notes. The offers, outlined on May 22, 2025, targeted various note classes and reflect Fannie Mae’s strategy to manage risk and adjust its portfolio for market stability. Approximately $1.798 billion in principal amount of notes were tendered by the May 29, 2025 deadline. The announcement provides detailed data on the securities, including CUSIP, ISIN, and tender percentages.