Company sells 2,785,600 shares to WDE Emerald and White Deer Energy
By Devika Patel
Knoxville, Tenn., June 4 - Emerald Oil, Inc. raised about $16.2 million in a private placement of stock with WDE Emerald Holdings LLC and White Deer Energy FI LP on June 4, according to a press release. The deal was announced May 15 and was arranged on May 13.
The company sold 2,785,600 common shares.
Proceeds will fund the company's 2013 capital budget.
Emerald is a Denver-based oil exploration and production company.
Issuer: | Emerald Oil, Inc.
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Issue: | Common stock
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Amount: | $16.2 million (approximate)
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Shares: | 2,785,600
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Warrants: | No
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Investors: | WDE Emerald Holdings LLC and White Deer Energy FI LP
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Announcement date: | May 15
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Pricing date: | May 13
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Settlement date: | June 4
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Stock symbol: | NYSE: EARN
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Stock price: | $6.90 at close May 10
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Market capitalization: | $160.06 million
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