Vitesse Energy issued 1,935,698 shares of common stock to Titan Exploration LLC in exchange for non-operated oil and gas assets and entered into a registration rights agreement to facilitate future resale of those shares.
Key takeaways
Issued 1,935,698 shares of common stock to Titan Exploration LLC in exchange for non-operated oil and gas assets.
The share issuance was made without registration under Section 4(a)(2) of the Securities Act.
Entered into a registration rights agreement requiring the company to file a shelf registration statement for resale of the shares.
The company must file the shelf registration statement within five days of April 8, 2026, and use commercially reasonable efforts to maintain its effectiveness.
Granted piggyback registration rights allowing holders to include shares in certain company underwritten offerings.
The company will pay certain registration expenses including legal counsel fees up to $100,000 per underwritten offering.