Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Enduro Royalty Trust New Units to Be Floated

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Enduro Royalty Trust's (NYSE: NDRO  ) parent is putting its trust in the markets to raise fresh capital. The company announced that its parent, Enduro Resource Partners, intends to float 11.2 million units in the trust in an underwritten public offering. Additionally, Enduro plans to grant the underwriters a 30-day purchase option for up to an additional 1.68 million units. 

According to the press release announcing the news, Enduro Resource Partners plans to use the net proceeds of the issue to retire debt drawn under a senior secured credit facility. Enduro Royalty Trust will receive no monies in the offering, as it is not the selling party.

The joint book-running managers of the offering will be Barclays, Citigroup, Goldman Sachs, JPMorgan Chase unit J.P. Morgan, Royal Bank of Canada's RBC Capital Markets, and the Securities arm of Wells Fargo.

Currently, Enduro Royalty Trust has 33 million units outstanding, which most recently closed at a price of $15.00 per unit.

Read/Post Comments (2) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On September 26, 2013, at 2:56 PM, addis3363 wrote:

    What do they mean by floating the shares???

  • Report this Comment On September 27, 2013, at 12:29 PM, GKwinners wrote:

    These are not "New Units." There will be no dilution due to this transaction. Read the prospectus.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2655267, ~/Articles/ArticleHandler.aspx, 4/29/2016 12:28:14 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

Today's Market

updated Moments ago Sponsored by:
DOW 17,681.46 -149.30 -0.84%
S&P 500 2,056.45 -19.36 -0.93%
NASD 4,751.66 -53.64 -1.12%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

4/29/2016 12:12 PM
NDRO $3.52 Up +0.04 +1.01%