New York, Nov. 30 - Houston American Energy Corp. said it reached agreement for a $14 million registered direct offering of common stock with institutional investors.
The company will sell 3 million shares at $4.68 each.
Settlement is expected on Dec. 4.
Proceeds will be used for working capital, including funding the company's share of development of properties in which it holds interests.
Global Hunter Securities, LLC is lead placement agent and Knight Capital Markets, LLC is co-placement agent.
Houston American is a Houston-based energy company.
| Issuer: | Houston American Energy Corp.
|
| Issue: | Common stock
|
| Amount: | $14 million
|
| Shares: | 3 million
|
| Price: | $4.68
|
| Placement agent: | Global Hunter Securities, LLC (lead), Knight Capital Markets, LLC (co)
|
| Pricing date: | Nov. 30
|
| Settlement: | Dec. 4
|
| Distribution: | Registered direct
|
| Stock symbol: | Nasdaq: HUSA
|
| Stock price: | $4.60 at close Nov. 30
|
| Market capitalization: | $128.8 million
|
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