TXO Partners (TXO) Completes $23.9M Common Units Offering

TXO Partners, L.P. (NYSE:TXO) is one of the 11 Best All-Time Low Stocks to Buy According to AnalystsOn May 19, TXO Partners, L.P. (NYSE:TXO) announced the full exercise of the underwriters’ option to purchase an additional 1,750,000 of its common units.

Management noted that each unit was sold at $15, and the transaction was finished on May 19. As a result, after fees and commissions, the company will receive around $23.9 million. TXO Partners, L.P. (NYSE:TXO) plans to use it to help buy assets from White Rock Energy, a company linked to Quantum Capital Group. Management noted that in case this deal does not go through, it will use the funds to pay off debt and for general business needs.

TXO Partners (TXO) Completes $23.9M Common Units Offering

An oil rig surrounded by the expanse of sea, the pumping operations in progress.

The offering was managed by several financial firms, including Raymond James, Stifel, Capital One Securities, Mizuho, and Texas Capital Securities. The sale followed all federal requirements and used SEC-registered documents to guide the process.

TXO Partners, L.P. (NYSE:TXO) focuses on acquiring and developing oil, natural gas, and natural gas liquids in North America.

While we acknowledge the potential of TXO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TXO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.