Natural gas mineral and royalty company WhiteHawk Minerals (WHK.US) has raised $200 million through the sale of 7.7 million shares, priced at $26 per share. This price point falls within the previously indicated range of $25 to $27 per share. The company issued 800,000 more shares than initially anticipated.

The offering's cornerstone investors, Horizon Kinetics and T. Rowe Price, had previously committed to purchasing $74 million worth of shares, representing 37% of the total deal.

WhiteHawk Minerals is a business focused on natural gas mineral and royalty interests. Its assets are primarily located in the Marcellus and Haynesville shale formations within the Appalachian and Haynesville basins. As of December 31, 2025, the company's portfolio encompasses approximately 3.4 million gross developed spacing unit (DSU) acres. This includes 1.6 million gross DSU acres across the Appalachian and Haynesville basins, which account for roughly 13% of total U.S. natural gas production.

The company intends to distribute dividends to shareholders on a quarterly basis.

Headquartered in Philadelphia, Pennsylvania, WhiteHawk Minerals began trading on the New York Stock Exchange on Tuesday under the ticker symbol WHK.

The joint book-running managers for the transaction were Raymond James, Stifel, J.P. Morgan, Capital One Securities, and Stephens Inc.