Business Context and Reporting Period
Company: Matador Resources Company
Filing Type: Form 8-K (Current Report)
Date of Report: August 21, 2018
Event: Final results of a cash tender offer for outstanding senior notes.
Key Financial Metrics
This filing does not report standard operating metrics such as revenue, profit, cash flow, or margins. The financial data provided relates exclusively to debt reduction activities:
- Debt Instrument: 6.875% Senior Notes due 2023.
- Total Outstanding Notes: $575 million aggregate principal amount.
- Notes Accepted: $378,915,000 aggregate principal amount validly tendered and not withdrawn.
- Pending Delivery: $2,190,000 aggregate principal amount tendered under Guaranteed Delivery Procedures (delivery due August 22, 2018).
Material Changes
The primary material change is the reduction of the company's outstanding debt load through the tender offer. The filing confirms the expiration of the tender offer on August 20, 2018, and the satisfaction or waiver of all conditions required to accept the tendered notes.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the successful completion of the tender offer process as of 5:00 p.m. New York City time on August 20, 2018.
Risks and Contingencies: The filing does not disclose new risks or contingencies beyond the standard terms of the tender offer. The information is furnished pursuant to Regulation FD and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the final settlement amount including the $2,190,000 pending under Guaranteed Delivery Procedures.
- Confirm the updated total outstanding principal for the 6.875% Senior Notes due 2023 following the acceptance of $378,915,000.
- Review the attached Tender Offer Press Release (Exhibit 99.1) for specific pricing and terms of the repurchase.
- Check subsequent filings for the final cash outflow associated with the note repurchase.