Calls upon the PHX Board of Directors to engage with WhiteHawk to pursue and complete a transaction
Encourages PHX stockholders to reach out to PHX’s Board and ask them to engage with WhiteHawk around a value-maximizing transaction
WhiteHawk Energy, LLC (together with its subsidiaries, “WhiteHawk”), calls for a response from the Board of Directors of PHX Minerals, Inc. (“PHX” or the “Company”) related to WhiteHawk’s proposal to acquire PHX in a $4.00 per share all-cash transaction.
“We are asking all stockholders to reach out to PHX to encourage discussions with WhiteHawk related to WhiteHawk’s all cash proposal of $4.00 per share. We have previously demonstrated financing for this transaction to PHX and its advisors,” says Daniel C. Herz, WhiteHawk’s Chief Executive Officer. “WhiteHawk’s proposal benefits all stockholders and represents a substantial premium to PHX's recent trading prices.”
WhiteHawk Energy strongly encourages all PHX stockholders to:
Reach out to PHX’s Board: Express your concerns about their lack of engagement around our proposal and demand transparency regarding their plans to maximize stockholder value.
PHX Investor Contact:
Rob Fink / Stephen Lee
FNK IR
646.809.4048
PHX@fnkir.com
PHX Corporate Contact:
405.948.1560
inquiry@phxmin.com
It's time for PHX to engage in good faith discussions about the future of the company. We remain committed to pursuing this value-creating opportunity and urge the Board to act in the best interests of all stockholders.
WhiteHawk is being advised by Stephens Inc. and Weil, Gotshal & Manges LLP.
Sincerely,
/s/ Daniel C. Herz
Daniel C. Herz
Chairman and Chief Executive Officer
WhiteHawk Energy, LLC
