India, June 23 -- WhiteHawk Income Corporation, alongside WhiteHawk Energy, LLC and their subsidiaries, has finalized the acquisition of PHX Minerals Inc. (PHX).

The transaction was completed on June 23, 2025, following a previously announced tender offer and merger agreement dated May 8, 2025.

Under the terms of the agreement, each eligible share of PHX common stock was converted into the right to receive $4.35 in cash, excluding shares held by PHX, its subsidiaries, WhiteHawk entities, or affiliates, as well as restricted shares and those under appraisal rights.

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As a result of the merger, PHX is now a wholly owned subsidiary of WhiteHawk's parent enti...