By Sheri Kasprzak
New York, Sept. 19 - Cano Petroleum, Inc. said it has received agreements for another $8,694,000 from a private placement of stock.
The company will issue 2.1 million shares at $4.14 each to a Boston-based institutional investor. The price per share was a 4% premium to the company's closing stock price of $3.98 on Sept. 16.
On Sept. 13, the company raised $10,779,996 from another closing of the offering, selling 2,603,864 shares at the same price.
The proceeds will be used for general corporate purposes and working capital.
Based in Forth Worth, Texas, Cano is an oil and natural gas exploration company.
| Issuer: | Cano Petroleum, Inc.
|
| Issue: | Stock
|
| Amount: | $8,694,000
|
| Shares: | 2.1 million
|
| Price: | $4.14
|
| Warrants: | No
|
| Settlement date: | Sept. 16
|
| Stock price: | $3.98 at close Sept. 16
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
