Latham Advises on US$1.1 Billion Public Offering of Common Stock by Magnolia Oil & Gas

Magnolia Oil & Gas Corporation (Magnolia) has announced the pricing of its previously announced underwritten public offering of 46,315,790 shares of its Class A common stock at a price to the public of US$23.75 per share. Additionally, Magnolia has granted the underwriters a 30‑day option to purchase up to an additional 6,947,368 shares of its common stock at the public offering price, less underwriting discounts and commissions. The net proceeds of the offering will be used to partially fund the cash consideration in connection with Magnolia’s previously announced acquisition of WildFire Energy.

Latham & Watkins LLP advised the underwriters on the transaction with a corporate deal team led by Austin/Houston partner David Miller, Houston partner Ryan Maierson, Austin partner Sam Rettew, and Chicago counsel Manasi Bhattacharyya, with associates Chelsea Carlson, Caroline Hughes, and Marvin Thiele. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Nathan Sauers; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associates Jacqueline Zhang and Kim Kooker.