Harvest Natural wraps $3.93 million private placement of common stock

Company sells 790,000 common shares at $5.13, $4.82 per share in deal

By Devika Patel

Knoxville, Tenn., Oct. 7 - Harvest Natural Resources, Inc. settled a $1.93 million second tranche of an $8 million private placement of stock on Oct. 2, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $2 million on Oct. 1 and priced on Sept. 30.

The company sold 3,928,700 common shares.

In the first tranche, Harvest Natural sold 390,000 shares at $5.13 apiece, which is a 30.5% discount to the Sept. 29 closing share price of $2.59. It sold 400,000 shares in the second tranche at $4.82, a 30.5% discount to the Sept. 29 closing price.

Harvest Natural Resources is a Houston independent oil and gas exploration and development company.

Issuer:	Harvest Natural Resources, Inc.
Issue:	Common stock
Amount:	$3,928,700
Shares:	790,000
Price:	$5.13, $4.82
Warrants:	No
Pricing date:	Sept. 30
Settlement date:	Oct. 1 (for $2,000,700), Oct. 2 (for $1,928,000)
Stock symbol:	NYSE: HNR
Stock price:	$2.59 at close Sept. 29
Market capitalization:	$24.78 million

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