Bookrunner Johnson Rice to raise funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 6 – Emerald Oil, Inc. said it priced a $27.5 million public sale of stock with a $4.13 million greenshoe. The offering was announced Thursday.
The company will sell 24,553,571 common shares at $1.12 per share. The price per share is a 9.68% discount to the Feb. 5 closing share price of $1.24.
Johnson Rice & Co. LLC is the bookrunner.
White Deer Energy LP may invest $15 million in this deal.
Proceeds will be used for working capital and for general corporate purposes.
Emerald is a Denver-based oil exploration and production company.
| Issuer: | Emerald Oil, Inc.
|
| Issue: | Common stock
|
| Amount: | $27.5 million
|
| Greenshoe: | $4,125,000
|
| Shares: | 24,553,571
|
| Price: | $1.12
|
| Warrants: | No
|
| Bookrunner: | Johnson Rice & Co. LLC
|
| Announcement date: | Feb. 3
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 11
|
| Stock symbol: | NYSE: EOX
|
| Stock price: | $1.24 at close Feb. 5
|
| Market capitalization: | $65.94 million
|
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