Benzinga | Aug 25, 2021 04:25PM EDT

PHX MINERALS INC. Announces At-The-Market Equity Offering Sales Program Wit Stifel For Up To 3M Shares

PHX Minerals Inc. (NYSE:PHX) ("PHX" or the "Company") announced today that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission and entered into an At-The-Market Equity Offering Sales Agreement (the "Sales Agreement") with Stifel, Nicolaus & Company, Incorporated, as sales agent and/or principal ("Stifel"), pursuant to which the Company may offer and sell, from time to time to or through Stifel, up to 3,000,000 shares (the "Shares") of its common stock through an "at-the-market" equity offering program (the "ATM Program").

PHX intends to use the net proceeds from the sale of Shares under the ATM Program for general corporate purposes, including to fund working capital and acquisitions, primarily of mineral and royalty interests.

The offer and sale of the Shares will be made pursuant to an effective shelf registration statement on Form S-3, including the base prospectus as supplemented by the prospectus supplement filed today. A copy of the prospectus supplement relating to the ATM Program may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, by email: SyndProspectus@stifel.com or by telephone: (855) 300-7136.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.