Deal Description: On March 25, 2024, Matador Resources Company (NYSE: MTDR) (“Matador”), announced the pricing of its underwritten public offering of 5,250,000 shares of its common stock (the “Equity Offering”).  The total estimated gross proceeds of the Equity Offering, before estimated offering fees and expenses, are approximately $347.3 million. The Equity Offering is expected to close on or about March 28, 2024, subject to customary closing conditions.  Matador intends to use the net proceeds from the Equity Offering for general corporate purposes, which may include, among other things, the funding of acquisitions and the repayment of borrowings outstanding under Matador’s revolving credit facility.

On March 26, 2024, Matador announced the pricing of its upsized offering of $900 million in aggregate principal amount of its 6.500% Senior Notes due 2032 in a private placement to eligible purchasers (the “Senior Notes Offering”). The Senior Notes Offering is expected to close on or about April 2, 2024, subject to customary closing conditions.  Matador intends to use the net proceeds from the Senior Notes Offering (i) to repurchase any and all of the approximately $699.2 million outstanding aggregate principal amount of its 5.875% senior notes due 2026 through a cash tender offer (the “Tender Offer”), and to pay related premiums, fees and expenses in connection with the Tender Offer, and (ii) for general corporate purposes, which may include the funding of acquisitions and the repayment of borrowings outstanding under Matador’s revolving credit facility.

Baker Botts is representing Matador in the Equity Offering, the Senior Notes Offering and the Tender Offer.

Baker Botts Lawyers/Office Involved:

Corporate: Preston Bernhisel (Partner, Dallas); Rusty Shellhorn (Associate, Dallas); Maddie Boezinger (Associate, Dallas); Chelsea Johnson (Associate, Houston)

Finance: Luke Weedon (Partner, Dallas); Brittany Simington (Senior Associate, Dallas)

Tax: Steve Marcus (Partner, Dallas); Maria Garay (Associate, Houston)

For more information, please see Matador’s news release for the Equity Offering by clicking here, for the Senior Notes Offering by clicking here and for the Tender Offer by clicking here.

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