Presidio Petroleum To Go Public Via Merger With SPAC EQV Ventures Acquisition

(RTTNews) - Presidio Investment Holdings, LLC, a differentiated oil and gas operator, has announced plans to go public through merger with EQV Ventures Acquisition Corp. (EQV), a special purpose acquisition company.

Following the merger, Presidio becoming a publicly listed company with an expected listing on the New York Stock Exchange under the ticker "FTW."

The combined company is expected to have an estimated post-transaction enterprise value of approximately $660 million, including assets acquired pursuant to the transaction.

The combined company, a US-domiciled C Corp to be named Presidio Production Company, will be led by Presidio's existing management team, including Will Ulrich and Chris Hammack as Co-CEOs.

As part of the transaction, Presidio will also acquire a complementary Texas Panhandle asset from an affiliate of EQV, EQV Resources LLC. EQV's sponsor will maintain a significant ownership stake in Presidio post-closing.

To finance the transaction, EQV has entered into agreements for approximately $85 million in common stock PIPE investments.