WhiteHawk Minerals (WHK.US), a company holding natural gas mineral rights and royalties in the Marcellus and Haynesville shale regions, disclosed the terms for its initial public offering on Tuesday. The company intends to raise $180 million by offering 6.9 million shares, with a proposed price range of $25 to $27 per share. Based on the midpoint of this price range, the company's fully diluted market valuation would reach approximately $678 million.

WhiteHawk Minerals is a business focused on natural gas mineral and royalty interests, with its core assets concentrated in the Marcellus and Haynesville shale plays within the Appalachian and Haynesville basins. As of December 31, 2025, the company's portfolio encompasses roughly 3.4 million gross drilling unit acres, including a combined 1.6 million gross drilling unit acres in the Appalachian and Haynesville basins. This represents an economic interest in approximately 13% of total U.S. natural gas production.

Founded in 2022 and headquartered in Philadelphia, Pennsylvania, the company reported revenue of $89 million for the twelve-month period ending March 31, 2026. WhiteHawk Minerals plans to list on the New York Stock Exchange under the ticker symbol "WHK."

The joint book-running managers for this offering are Raymond James, Stifel, J.P. Morgan, Capital One Securities, and Stephens Inc. Pricing for the IPO is anticipated during the week of June 1, 2026.