New Issue: Hyperdynamics prices $10.5 million registered direct offering of shares

By Devika Patel

Knoxville, Tenn., April 20 - Hyperdynamics Corp. said it will raise $10.5 million in a registered direct offering of stock.

The company will sell 8,076,925 common shares at $1.30 apiece. Investors will also receive warrants for 2,826,923 shares, which are exercisable at $1.58. Of the warrants, 807,692 are exercisable for one year and the remaining 2,019,231 warrants are exercisable for five years.

Rodman & Renshaw, LLC is the agent.

Proceeds will be used for seismic data acquisition and processing, extinguishment of short-term debt, working capital and general corporate purposes.

Hyperdynamics is an oil and gas exploration and production company based in Sugar Land, Texas.

Issuer:	Hyperdynamics Corp.
Issue:	Common stock
Amount:	$10.5 million
Shares:	8,076,925
Price:	$1.30
Warrants:	For 2,826,923 shares
Warrant expiration:	One year (807,692 warrants) five years (2,019,231 warrants)
Warrant strike price:	$1.58
Agent:	Rodman & Renshaw, LLC
Pricing date:	April 20
Stock symbol:	Amex: HDY
Stock price:	$1.58 at close April 19
Market capitalization:	$115 million

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