TXO Partners slides after launching equity offering for oil and gas assets acquisition

** Shares of TXO Partners TXO.N down 10.1% to $15.90 after hours following acquisition-related equity offering news

** Fort Worth, Texas-based E&P firm commences $175 mln common units offering

** It plans to use net proceeds to fund $475 mln purchase of certain oil, gas and mineral assets owned by White Rock Energy, which are located in the Williston Basin of Montana and North Dakota

** Pending acquisition expected to close in Q3 2025

** If acquisition not completed, co says offering proceeds will be used to repay debt and for general purposes

** Raymond James and Stifel acting as jt bookrunners for equity offering

** With ~41.2 mln units outstanding, TXO has roughly $730 mln market cap

** TXO shares on Tues closed up 1% at $17.68, up 5% YTD