Deal conducted by joint bookrunning managers Canaccord, Johnson Rice
By Devika Patel
Knoxville, Tenn., May 17 - Emerald Oil, Inc. priced a $73.2 million public offering of stock with a $10.98 million greenshoe in an FWP filed Friday with the Securities and Exchange Commission. The deal was announced Monday.
The company will sell 12 million common shares at $6.10 apiece. The price per share is a 3.18% discount to the May 16 closing share price of $6.30.
Canaccord Genuity Inc. and Johnson Rice & Co. LLC are the joint bookrunning managers.
Settlement is expected May 22.
Proceeds will be used to fund the capital budget in 2013 and for general corporate purposes, including working capital.
Emerald is a Denver-based oil exploration and production company.
| Issuer: | Emerald Oil, Inc.
|
| Issue: | Common shares
|
| Amount: | $73.2 million
|
| Greenshoe: | $10.98 million
|
| Shares: | 12 million
|
| Price: | $6.10
|
| Warrants: | No
|
| Bookrunners: | Canaccord Genuity Inc. and Johnson Rice & Co. LLC
|
| Co-managers: | Global Hunter Securities, LLC and SunTrust Robinson Humphrey, Inc.
|
| Announcement date: | May 13
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Stock symbol: | NYSE: EOX
|
| Stock price: | $6.30 at close May 16
|
| Market capitalization: | $160.57 million
|
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