By Sheri Kasprzak
New York, July 5 - FX Energy, Inc. is gearing up to close a $12.945 million direct placement of its stock.
A group of long-term institutional investors agreed to buy 1.5 million shares at $8.63 each. The share price is a 7.1% discount to the company's $9.29 closing stock price on Tuesday.
The shares are being sold under the company's shelf registration.
C.K. Cooper & Co. was the placement agent.
Proceeds will be used for the expansion and acceleration of the company's exploration program in Poland as well as for general corporate purposes.
Based in Salt Lake City, FX is an oil and natural gas exploration company.
| Issuer: | FX Energy, Inc.
|
| Issue: | Stock
|
| Amount: | $12.945 million
|
| Shares: | 1.5 million
|
| Price: | $8.63
|
| Warrants: | No
|
| Placement agent: | C.K. Cooper & Co.
|
| Announcement date: | July 5
|
| Stock symbol: | Nasdaq: FXEN
|
| Stock price: | $9.29 at close July 5
|
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