A Blank Rome team represented PHX Minerals Inc. (NYSE: PHX) in closing its previously announced sale transaction to WhiteHawk Income Corporation on June 23, 2025. PHX shareholders received consideration of $4.35 per share in the all-cash transaction, net to each shareholder in cash, without interest and subject to any required tax withholding.
Pursuant to the merger agreement entered into between the parties on May 8, 2025, the transaction was structured as a public tender offer followed by a second-step merger. The tender offer was completed on June 23, 2025, with approximately 73.7 percent of PHX’s outstanding shares tendered, followed by the second-step merger of the remaining shares on the same day. Following the closing of the merger, PHX became a wholly owned subsidiary of WhiteHawk Income Corporation and ceased to be a public company.
To learn more about the transaction, please read: WhiteHawk Completes Tender Offer for Acquisition of PHX and WhiteHawk Completes Acquisition of PHX.
The Blank Rome team was led by Robert J. Mittman, Peter Schnur, Peter M. Melampy, and Alexander J. Dondershine, with the support of Joseph T. Gulant, Evan H. Lechtman, Brad L. Shiffman, Michael A. Kadlec, Andrew T. Hambelton, and Austin M. Abir, among others.
