Pricing of EnerVest Block Trade of 7,500,000 Shares of Class A Common Stock of Magnolia; Magnolia Agreement to Purchase 2,000,000 Shares of Class B Common Stock from EnerVest

Nov 04, 2022

Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”), today announced the pricing of the previously announced underwritten block trade of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”) resulting in total gross proceeds of $183 million (the “Offering”). The Offering is expected to close on or about November 8, 2022, subject to customary closing conditions. The Company will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.

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