LandBridge Corp

LandBridge Corp (LB) priced its initial public offering on Jun 28, 2024 at $17.00 per share, below its $19.00–$22.00 range, raising $246.5M, and listed on NYSE. At the IPO price its market capitalization was about $1.24B. Goldman Sachs was lead-left underwriter, joined by Barclays, Wells Fargo and Citigroup and others. Vinson & Elkins advised the company and Gibson Dunn advised the underwriters.

LandBridge Corp owns about 220,000 surface acres in and around the Delaware sub-basin of the Permian Basin. It manages the land to support oil and natural gas development and other uses such as solar power, power storage, data centers and oilfield reclamation facilities.

Status

IPO

Ticker

LB

Exchange

NYSE

Priced

Jun 28, 2024

IPO price

$17.00

Price range

$19.00–$22.00

Raised

$246.5M

Market cap at IPO price

$1.24B

First filed

May 31, 2024

Underwriters

Goldman Sachs, Barclays, Wells Fargo, Citigroup, Piper Sandler, Raymond James, Montgomery Scott Johnson Rice & Company, Pickering Energy Partners and Texas Capital

Company counsel

Vinson & Elkins

Underwriters' counsel

Gibson Dunn

Sector

Real estate & finance

Country / state

TX

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.