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Verde Clean Fuels, Inc. Announces $50 Million Equity Investment by Cottonmouth Ventures, LLC, a Wholly-Owned Subsidiary of Diamondback Energy, Inc.
Thursday, 19th December at 7:00 am
• Cottonmouth and Verde have entered into an agreement for a $50 million equity investment through the purchase of 12.5 million shares of Verde Class A common stock by Cottonmouth at a purchase price of $4.00 per share
• Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions
• Proceeds from the investment are expected to be used to further the development and construction of potential natural gas-to-gasoline production plants in the Permian Basin and for other general corporate purposes
• The investment would increase Cottonmouth's total investment in Verde to $70 million and Cottonmouth would become the second largest shareholder of Verde
• In connection with the investment, Verde will appoint a director and an observer, each designated by Cottonmouth, to Verde's Board of Directors
Verde Clean Fuels, Inc. ("Verde" or, the "Company") (NASDAQ: VGAS) announced today the entry into a stock purchase agreement with Cottonmouth Ventures, LLC ("Cottonmouth" and collectively with the Company, the "Parties"), a wholly-owned subsidiary of Diamondback Energy, Inc. ("Diamondback") (NASDAQ: FANG), for a $50 million equity investment by Cottonmouth into Verde. The investment consists of the purchase of 12.5 million shares of Verde's Class A common stock at a purchase price of $4.00 per share. Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions. Upon closing, the investment would represent the second investment by Cottonmouth in Verde over the past two years, for a total investment of $70 million, making Cottonmouth the second largest shareholder of Verde.
Thursday, 19th December at 7:00 am
• Cottonmouth and Verde have entered into an agreement for a $50 million equity investment through the purchase of 12.5 million shares of Verde Class A common stock by Cottonmouth at a purchase price of $4.00 per share
• Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions
• Proceeds from the investment are expected to be used to further the development and construction of potential natural gas-to-gasoline production plants in the Permian Basin and for other general corporate purposes
• The investment would increase Cottonmouth's total investment in Verde to $70 million and Cottonmouth would become the second largest shareholder of Verde
• In connection with the investment, Verde will appoint a director and an observer, each designated by Cottonmouth, to Verde's Board of Directors
Verde Clean Fuels, Inc. ("Verde" or, the "Company") (NASDAQ: VGAS) announced today the entry into a stock purchase agreement with Cottonmouth Ventures, LLC ("Cottonmouth" and collectively with the Company, the "Parties"), a wholly-owned subsidiary of Diamondback Energy, Inc. ("Diamondback") (NASDAQ: FANG), for a $50 million equity investment by Cottonmouth into Verde. The investment consists of the purchase of 12.5 million shares of Verde's Class A common stock at a purchase price of $4.00 per share. Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions. Upon closing, the investment would represent the second investment by Cottonmouth in Verde over the past two years, for a total investment of $70 million, making Cottonmouth the second largest shareholder of Verde.
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