Osprey Energy / Falcon Minerals Stockholders Approve Initial Business Combination
August 20 2018 - 4:15PM
Osprey Energy Acquisition Corp. (“Osprey”) (NASDAQ: OSPR, OSPRU,
OSPRW), today announced that its stockholders have approved
Osprey’s previously announced definitive agreement to acquire the
assets of Royal Resources L.P., an entity owned by funds managed by
Blackstone Energy Partners and Blackstone Capital Partners and
approved the acquisitions and other transactions contemplated
thereby, at the special meeting of stockholders held today.
Additionally, Osprey announced that none of Osprey’s stockholders
exercised their right to redeem shares of Class A common stock of
Osprey in connection with the business combination. Osprey’s
board of directors had previously approved the business
combination.
In addition to approving the business
combination, Osprey’s stockholders approved the amendment of
Osprey’s certificate of incorporation, including changing the name
of Osprey to “Falcon Minerals Corporation,” and all other proposals
included in the definitive proxy statement filed by Osprey with the
Securities and Exchange Commission (the “SEC”) on August 3,
2018.
Osprey expects the transactions to close in the
coming days, subject to customary closing conditions. Upon closing,
Falcon Minerals Corporation will be a public minerals company with
a world-class, oil-weighted asset base concentrated in the
core-of-the-core of the Eagle Ford Shale and a strategic focus on
driving sustainable free cash flow and visible growth in leading
North American oil play.
Forward-Looking Statements
Certain statements contained in this press
release, which reflect the current views of Osprey with respect to
future events, and any other statements of a future or
forward-looking nature, constitute “forward-looking statements” for
the purposes of applicable federal securities laws. These
forward-looking statements include, but are not limited to,
statements with respect to the completion of the transactions
contemplated by the definitive agreement between Osprey and Royal
Resources and the future operating and financial performance,
business plans and prospects of the combined company. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The forward-looking statements contained in this
press release are based on Osprey’s current expectations and
beliefs concerning future developments and their potential effects
on Osprey and Royal Resources. There can be no assurance that
future developments affecting us will be those that we have
anticipated. You should not place undue reliance on these
forward-looking statements. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
Osprey’s or Royal Resources’ control) or other assumptions that may
cause actual events to be materially different from those expressed
or implied by these forward-looking statements. A description
of certain risks and uncertainties and factors that could cause
actual results to differ materially from past results and future
plans and projected and estimated future results can be found in
Osprey’s filings with the SEC, including the definitive proxy
statement filed by Osprey with the SEC in connection with the
proposed business combination and Osprey’s Annual Report on Form
10-K for the fiscal year ended December 31, 2017, all of which are
available free of charge at www.sec.gov. None of Osprey,
Royal Resources or their respective affiliates or representatives
assumes any obligation to update or correct any forward-looking
statements or other information contained in this press
release.
About Falcon Minerals
Corporation
Falcon Minerals Corporation is a C-Corporation
formed to own and acquire high growth core-of-the-core oil-weighted
minerals which generate substantial free cash flow. Upon closing of
the business combination with Royal Resources L.P., Falcon Minerals
will own mineral, royalty, and over-riding royalty interests
covering 251,000 gross unit acres in the Eagle Ford and Austin
Chalk in Karnes County, DeWitt County, and Gonzales County
Texas.
About Osprey Energy Acquisition
Corp.
Osprey is an energy focused special purpose
acquisition corporation formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses, capitalizing on its management team’s experience to
identify, acquire and operate a business in the energy industry
that may provide opportunities for attractive returns. Osprey
completed its $275 million initial public offering in July
2017. On June 3, 2018, Osprey entered into a definitive
agreement to acquire the assets of Royal Resources L.P.. Upon
the closing of the business combination, Osprey will be renamed
Falcon Minerals Corporation.
Contacts:
Falcon Minerals: Jeff
Brotman
jbrotman@falconminerals.com(215) 832-4161
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