Published on 9/1/2009 in the Prospect News PIPE Daily.
New Issue: Cubic Energy concludes $1.79 million private placement of common stock
By Devika Patel
Knoxville, Tenn., Sept. 1 - Cubic Energy, Inc. said it completed a $1.79 million private placement of stock.
The company sold 2,104,001 common shares, along with warrants for 1,052,000 shares, at $0.85 per share.
The warrants are exercisable at $0.85 until July 31, 2014.
The oil and natural gas company is based in Dallas.
| Issuer: | Cubic Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,788,401
|
| Shares: | 2,104,001
|
| Price: | $0.85
|
| Warrants: | For 1,052,000 shares
|
| Warrant expiration: | July 31, 2014
|
| Warrant strike price: | $0.85
|
| Settlement date: | Sept. 1
|
| Stock symbol: | NYSE Amex: QBC
|
| Stock price: | $1.08 at close Aug. 31
|
| Market capitalization: | $63.8 million
|
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