PHILADELPHIA, PA — WhiteHawk Income Corporation has announced the successful acquisition of PHX Minerals Inc. (NYSE: PHX), finalizing the process on June 23, 2025. The transaction marks a significant milestone for WhiteHawk, which has acquired PHX through a merger agreement first announced on May 8, 2025.
The acquisition process was executed in two stages. Initially, WhiteHawk completed a tender offer for all outstanding shares of PHX common stock. Subsequently, the company finalized the merger between WhiteHawk Merger Sub, Inc. and PHX. Under the agreed terms, eligible PHX shareholders will receive $4.35 per share in cash, net of taxes and without interest, aligning with the consideration outlined in the tender offer. Restricted shares held by insiders and shares held by dissenting shareholders who sought appraisal rights under Delaware law are exceptions to this payout structure.
With the merger completed, PHX has become a wholly owned subsidiary of WhiteHawk Income Corporation. Trading of PHX shares ceased before the market opened on June 23, 2025, and the company has been officially delisted from the New York Stock Exchange.
The acquisition propels WhiteHawk’s strategy to enhance its portfolio in the natural resources industry, leveraging PHX’s assets and expertise. WhiteHawk’s acquisition positions the company to potentially optimize resource production and revenue streams while integrating the operations of PHX into its organizational footprint.
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