Deal description: On January 13, 2023, Jefferies Financial Group Inc. (“Jefferies”) (NYSE: JEF) and Vitesse Energy, Inc. (“Vitesse”) (NYSE: VTS) completed the distribution (the “Distribution”) by Jefferies of all the outstanding shares of common stock of Vitesse (“Vitesse Common Stock”) held by Jefferies. As a result of the Distribution, Vitesse became an independent, publicly traded company. Prior to the Distribution, Vitesse acquired all of the issued and outstanding equity interests of Vitesse Energy, LLC and Vitesse Oil, LLC.
Common shares of Vitesse Common Stock began trading “regular way” on January 17, 2023, on the New York Stock Exchange under the symbol “VTS”.
In connection with the Distribution, on January 13, 2023, Jefferies shareholders received one share of Vitesse Common Stock for every 8.49668 common shares of Jefferies held at the close of business on December 27, 2022. Fractional shares will be aggregated and sold into the public market and the proceeds distributed pro rata to Jefferies shareholders who otherwise would have received such fractional shares. Approximately 26.6 million shares of Vitesse Common Stock were distributed to Jefferies shareholders, which equals approximately 94.37% of the total issued and outstanding shares of Vitesse Common Stock.
Baker Botts acted as Jefferies’ legal advisor.
Jefferies’ and Vitesse’s joint press release can be found here.
Baker Botts Lawyers/Offices:
Corporate: Michael Swidler (Partner, New York), Eileen Boyce (Partner, Houston), Felix Phillips (Partner, Houston), Lee Davis (Special Counsel, Washington, D.C.), Jon Kovacs (Senior Associate, New York), and Elizabeth Rogers (Associate, New York).
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