Item 8.01. Other Events.
On June 30, 2021, Riley Exploration Permian, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Truist Securities, Inc., as representative of the other
several underwriters listed in Exhibit A to the Underwriting Agreement (collectively, the “Underwriters”), relating to its previously announced public offering of 1,666,667 shares of common stock, par value $0.001 per share, of the Company
(the “Common Stock” and such offering the “Equity Offering”). Under the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to 250,000 additional shares of Common Stock.
The Equity Offering closed on July 2, 2021. The Company intends to use approximately $25 million of the net proceeds from the Equity Offering to fund drilling and infrastructure for the Company’s
EOR Project and the remaining net proceeds for working capital purposes and other general corporate purposes, which may include financing of capital expenditures, financing acquisitions or investments, repayment or refinancing of outstanding debt,
financing other business opportunities, and working capital purposes.
The Equity Offering was made pursuant to a prospectus supplement, dated June 30, 2021, and filed with the Securities and Exchange Commission (the “SEC”) on June 30, 2021, and the base prospectus,
dated May 12, 2021, filed as part of the Company’s shelf registration statement (File No. 333-255104) filed with the SEC on April 7, 2021 and declared effective on May 12, 2021.
The foregoing summary of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, which is attached as Exhibit
1.1 to this Current Report on Form 8-K and incorporated herein by reference.
di Santo Law PLLC has issued an opinion, dated July 2, 2021, regarding certain legal matters with respect to the Equity Offering, a copy of which is filed as Exhibit 5.1 hereto.
This Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will
be made in accordance with the registration requirements of the Securities Act of 1933, as amended.