Business Context and Reporting Period
Company: Permian Basin Royalty Trust (PBT)
Filing Type: Form 8-K (Current Report)
Date of Report: May 19, 2026
Context: The Trust filed this report to disclose the receipt of a Schedule 13D filed by SoftVest, L.P. and others. This filing relates to a proposed business combination involving the Trust.
Key Financial Metrics
This filing is a disclosure of a corporate event and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change disclosed is the initiation of a potential business combination process triggered by SoftVest, L.P. The Trustee explicitly states that this report is not a proxy solicitation and that the Trust is not currently soliciting proxies or participating in any solicitation by SoftVest.
Guidance, Outlook, and Risks
- Future Filings: The Trustee anticipates that if the business combination proceeds, SoftVest or a new entity ("New PubCo") may file a registration statement on Form S-4. This document will include a proxy statement and prospectus.
- Investor Action: Unitholders are strongly encouraged to read the Form S-4 and related documents when available for critical information.
- Forward-Looking Statements: The filing includes standard disclaimers that actual results may differ materially from anticipated outcomes due to various risk factors, including actions by SoftVest, New PubCo, courts, or other third parties.
- Contingencies: The outcome of the proposed business combination is contingent upon future filings and unitholder actions, which are not within the control of the Trust or Trustee.
Key Facts for Investor Verification
- Verify the details of the Schedule 13D filed by SoftVest, L.P. to understand the specific terms of the proposed business combination.
- Monitor the SEC website (www.sec.gov) for the anticipated Form S-4, which will contain the definitive proxy statement and prospectus.
- Confirm that the Trustee is not soliciting proxies at this time and that this 8-K is for informational purposes only.
- Review the Trust's most recent Form 10-K and 10-Q for historical financial data, as this 8-K contains no financial metrics.