By Sheri Kasprzak
Atlanta, Nov. 10 - Infinity Inc. has received binding agreements for its $5.2 million private placement offering.
In the deal, Infinity will sell 1,027,000 shares at $5.10 per share to institutional investors.
C.K. Cooper & Co. acted as lead placement agent in the deal, and Northeast Securities Inc. acted as co-agent.
Based in Denver and Chanute, Kan., Infinity is an oil and natural gas exploration, development and production company.
The company plans to use the proceeds from the deal for the exploration and development of its oil and gas properties. The funds will also be used for the repayment of debt and for general corporate purposes.
| Issuer: | Infinity Inc.
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| Issue: | Stock
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| Amount: | $5.2 million
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| Shares: | 1,027,000
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| Price: | $5.10
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| Warrants: | No
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| Placement agent: | C.K. Cooper & Co. (lead); Northeast Securities Inc.
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| Announcement date: | Nov. 10
|
| Settlement date: | Nov. 12
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| Stock price: | $5.279 at close Nov. 10
|
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