Gas explorer offers 1,275,001 common shares at $1.20 per share in deal
By Devika Patel
Knoxville, Tenn., Aug. 8 - EFL Overseas, Inc. settled a $1.53 million private placement of stock from July 10 through Aug. 7, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 1,275,001 common shares at $1.20 apiece. The per-share price represents a 47.83% discount to the July 9 closing share price of $2.30.
The gas explorer is based in Houston.
| Issuer: | EFL Overseas, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.53 million
|
| Shares: | 1,275,001
|
| Price: | $1.20
|
| Warrants: | No
|
| Settlement date: | July 10 through Aug. 7
|
| Stock symbol: | OTCBB: EFLO
|
| Stock price: | $2.30 at close July 9
|
| Market capitalization: | $15.23 million
|
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