James Hackett, former chairman and CEO of Anadarko Petroleum Corp. (NYSE: APC), will serve as CEO of the new Silver Run Acquisition Corp. II, an energy-focused special purpose acquisition entity sponsored by an affiliate of Riverstone Holdings LLC, according to a filing with the U.S. Securities and Exchange Commission.
UPDATE: Former Anadarko CEO Latest Headliner In $1 Billion ‘Blank-Check’ IPO
Silver Run Acquisition Corp. II announced the pricing of its IPO of 90 million units on March 23 at a price of $10 per unit. According to the filing, Hackett will serve as CEO of the new entity when the IPO concludes.
Hackett joined Riverstone as a partner and co-head of the firm’s Houston office in 2013 after stepping down from Anadarko.
Silver Run Acquisition Corporation II units listed on the NASDAQ Capital Market March 24 and trade under the ticker symbol SRANU. Each unit consists of one share of the company's Class A common stock and one-third of one warrant, each whole warrant enabling the holder thereof to purchase one whole share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ Stock Market under the symbols SRUN and SRUNW, respectively.
Citigroup, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. are serving as the underwriters for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 13.5 million units at the IPO price to cover over-allotments, if any.
Recommended Reading
OEP Completes Acquisition of TechnipFMC’s Measurement Solutions Business
2024-03-27 - One Equity Partners said TechnipFMC’s measurement solutions business will be rebranded as Guidant and specialize in measurement technology, automation solutions and global systems.
PE Investors Scoop Up Offshore Services Provider Acteon Group
2024-03-27 - Acteon Group, a U.K.-based subsea services provider serving customers in offshore oil, gas and renewables, was acquired by new private equity backers.
Exclusive: Is TG Natural Resources Looking to Snap Up More?
2024-03-27 - At Hart Energy's DUG Gas+ Conference and Expo in Shreveport, Louisiana, TG Natural Resources' President and CEO Craig Jarchow said the integration of the Rockcliff Energy acquisition is well underway and that "being acquisitive is certainly" in the company's future.
IKAV and VTTI to Buy Majority Stake in Italy's Adriatic LNG Terminal
2024-03-27 - The closing of the deal to buy majority stake in the Adriatic LNG terminal by VTTI and IKAV is expected in the second half of the year.
Eni, Vår Energi Wrap Up Acquisition of Neptune Energy Assets
2024-01-31 - Neptune retains its German operations, Vår takes over the Norwegian portfolio and Eni scoops up the rest of the assets under the $4.9 billion deal.