Magellan Petroleum arranges $10 million at-the-market equity offering

Cantor Fitzgerald helps finance corporate purposes and working capital

By Devika Patel

Knoxville, Tenn., Dec. 24 – Magellan Petroleum Corp. negotiated a $10 million at-the-market offering with Cantor Fitzgerald & Co. on Dec. 24, according to a prospectus supplement and 8-K filed Wednesday with the Securities and Exchange Commission.

Cantor will be paid a 3% commission.

Proceeds will be used for general corporate purposes and working capital.

Magellan Petroleum is a Hartford, Conn., oil and gas company.

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