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Three Firms Steer $1.3 Billion ‘Hydrocarbon’ Focused SPAC

May 23, 2022, 10:55 AM

Holland & Knight is advising Dallas-based private equity firm Grey Rock Investment Partners on its agreement to merge with a special purpose acquisition company led by former US House Speaker Paul Ryan, R-Wisc.

Kirkland & Ellis is advising the oil-and-gas focused SPAC, Executive Network Partnering Corporation. The merger, expected to close later this year, will form Granite Ridge Resources, Inc., expected to be listed on the New York Stock Exchange under ticker symbol “GRNT,” and valued at about $1.3 billion, according to a statement.

Baker Botts said it’s advising Stephens Inc., the financial adviser to Executive Network Partnering Corporation.

Granite Ridge will seek to cash in on soaring market demand for oil and gas commodities, the statement said.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com; John Crawley at jcrawley@bloomberglaw.com