Correspondence 0001104659-24-099452 from BKV Corp (BKV) (CIK 0001838406) (BKV)
BKV Corp (BKV) (CIK 0001838406)
Date: Sept. 12, 2024 · CIK: 0001838406 · Accession: 0001104659-24-099452
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File numbers found in text: 333-268469
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CORRESP
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BKV Corporation
1200 17th Street, Suite 2100
Denver, CO 80202
September 12, 2024
VIA EDGAR
United States Securities and Exchange Commission
Division of Corporation Finance
100 F Street, N.E.
Washington, D.C. 20549
Attention: Loan Lauren Nguyen, Legal Branch
Chief
Liz Packebusch, Staff Attorney
Karina Dorin, Staff Attorney
Mark Wojciechowski, Staff Accountant
Jenifer Gallagher, Staff Accountant
Sandra Wall, Petroleum Engineer
Re: BKV Corporation
Registration Statement on Form S-1
File No. 333-268469
Ladies and Gentlemen:
Pursuant to discussions with
the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission, BKV
Corporation (the “Company,” “we” or “our”) hereby confidentially
submits (the “Submission”) its currently expected offering terms of the initial public offering (the “Offering”)
of its common stock, par value $0.01 per share (the “Common Stock”), including, among other things, the bona
fide price range pursuant to Item 501(b)(3) of Regulation S-K, the number of shares of Common Stock to be offered, the
estimated net proceeds the Company expects to receive from the Offering and the total number of shares of Common Stock to be outstanding
after the Offering. The Company expects that these pricing terms and other items will be included in a future amendment to the Registration
Statement on Form S-1, File No. 333-268469 (the “Registration Statement”).
The Offering terms included
in the Submission are based on bona fide estimates of the range of the minimum and maximum offering price and the maximum number of shares
of Common Stock to be offered as of the date of this correspondence. Should the bona fide estimates of these terms change, the figures
presented in future amendments to the Registration Statement may increase or decrease.
The Company proposes to price
the Offering with a bona fide price range of $19.00 to $21.00 per share of Common Stock, with a midpoint of $20.00 per share of Common
Stock. In the Offering, the Company proposes to sell up to 15,000,000 shares of Common Stock. The Company also proposes to grant the underwriters
a 30-day option to purchase up to an additional 2,250,000 shares of Common Stock to cover over-allotments. This range and the
additional information included in the Submission are initially being provided for your consideration by correspondence due to the Company’s
and the underwriters’ concern regarding providing such information in advance of the launch of the Offering given recent market
volatility, as well as our desire to provide all information necessary for the Staff to complete its review on a timely basis.
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The Company is enclosing its
proposed marked copy of those pages of the Registration Statement that will be affected by the Offering terms set forth herein. We
expect that these marked changes will be incorporated into a future amendment to the Registration Statement. The Company seeks confirmation
from the Staff that it may launch its Offering with the price range specified herein and include such price range in a future filing of
the Registration Statement.
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If you have any questions
with respect to the foregoing, please contact Samantha Crispin of Baker Botts L.L.P. at (214) 953-6497 or Preston Bernhisel of the same
firm at (214) 953-6783.
Very truly yours,
BKV Corporation
By:
/s/ Christopher P. Kalnin
Name:
Christopher P. Kalnin
Title:
Chief Executive Officer
cc: Samantha Crispin, Baker Botts L.L.P.
Preston Bernhisel, Baker Botts L.L.P.
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