India, April 7 -- Mach Natural Resources LP (MNR) shares fell 10.24 percent, down $1.45 to $12.70 on Tuesday, after selling unitholders priced an underwritten public offering of 9 million common units at $13.05 per unit.
The stock is currently trading at $12.70, below its previous close of $14.15, after opening at $12.63 on the New York Stock Exchange. Shares traded in a range of $12.56 to $12.80 during the session, with volume rising to 2.81 million shares, far above the average daily volume of 343,006.
Mach Natural Resources' 52-week range is $10.46 to $15.60. The company said the offering is being conducted by selling unitholders including Vepu Inc., Simlog Inc., and Sabinal Energy Operating, LLC, with Morgan Stanley acting as underwri...