On December 10, 2024, Freehold Royalties Ltd. announced a $150.02 million equity offering, issuing 11,540,000 common shares at $13.00 per share. The deal, which will close on December 13, 2024, was led by RBC Dominion Securities Inc., CIBC World Markets Inc., and TD Securities Inc., with participation from Peters & Co. Limited, ATB Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc., and Raymond James Ltd.

Burnet, Duckworth & Palmer LLP served as legal counsel to Freehold, and Norton Rose Fulbright Canada LLP represented the underwriters. Proceeds, alongside $94.7 million from credit facilities, will fund a $238 million Midland Basin acquisition to expand oil-weighted royalty assets. If the acquisition does not proceed, proceeds will reduce debt.