Jones Energy II to be acquired by Revolution Resources

AUSTIN - Jones Energy II, Inc. has entered into a definitive merger agreement to be acquired by Revolution II WI Holding Company, LLC in an all-cash transaction valued at approximately $201.5 million. Under the terms of the merger agreement, which has been unanimously approved by the Jones Energy Board of Directors and a majority of the Jones Energy stockholders, Jones Energy stockholders will receive approximately $14.11 in cash for each share of Jones Energy Class A common stock or each unit of Jones Energy Holdings II, LLC they own, as applicable. The transaction is expected to close in the first quarter of 2020.

Jones Energy’s chairman of the board Jim Addison said, “We are pleased to reach this comprehensive agreement with Revolution. This announcement marks the completion and successful outcome of the Board’s extensive strategic alternatives process, which has been underway since earlier this year. Throughout the course of our exhaustive review, we engaged in meaningful strategic dialog with a significant number of potential counterparties. Ultimately, the board unanimously determined that an all-cash transaction with Revolution is in the best interests of our shareholders and the Company and will deliver the strongest economic value relative to the comprehensive range of alternatives we examined.”