Banking Recap

M&A Transaction Announced

This record is an M&A transaction structured as a membership interest purchase agreement, involving Percussion Petroleum Operating II LLC and Callon Petroleum Operating Company. The disclosed value is not stated in the source document(s). The facts block does not specify a sector classification for this record, and does not clearly identify which party is the target versus the acquirer beyond the names in the deal's slug.

May 8, 2023·SEC EDGAR (8-K)·pending regulatory·membership interest purchase agreement

The facts are sourced from an 8-K filed with the SEC via EDGAR, published on May 8, 2023. The deal's current status is pending regulatory review.

Only one financial advisor is identified in the facts block: Tudor, Pickering, Holt & Co., described as a third-party advisor to the target side. The source sentence is drawn from a defined-term provision in the transaction agreement itself, stating that "'Transaction Expenses' means, with respect to the Company as of the date the determination is being made, without duplication: all fees, costs and expenses (including fees, costs and expenses of third-party advisors (including Tudor, Pickering, Holt & Co.), legal counsel (including Gibson), investment bankers or other representatives) incurred by the Company in connection with the transactions contemplated this Agreement and the Related Agreements." This indicates Tudor, Pickering, Holt & Co.'s role was referenced in the context of reimbursable transaction expenses rather than a standalone advisory announcement.

No discrete legal advisor entries are provided in the facts block, though the same source sentence referencing Tudor, Pickering, Holt & Co. also mentions legal counsel "including Gibson" in the context of transaction expenses, without further detail.

Beyond the classification of this transaction as a membership interest purchase agreement, no further detail on the purchase price, consideration structure, or other specific terms is included in the facts provided.

Several items are not disclosed in this record: the transaction value is not stated, the sector is not specified, no discrete legal advisor relationship is confirmed beyond the passing reference to "Gibson" in a fee-related defined term, and no expected closing date is given beyond the pending-regulatory status.