Deal sells units of one common share and two warrants via Roth Capital
By Devika Patel
Knoxville, Tenn., June 21 - Prospect Global Resources Inc. said it priced a $5 million public offering of units with a $140,783 greenshoe. The deal was announced Thursday.
The company will sell 41,666,700 units of one common share and two warrants at $0.12 per unit, with one warrant exercisable for five years and the other for 90 days.
Roth Capital Partners, LLC is the manager.
Proceeds will be used for development of the Holbrook Project, including a definitive feasibility study, to make mandatory repayments of debt and for general corporate purposes.
Based in Denver, Prospect Global is a resource exploration company.
| Issuer: | Prospect Global Resources Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $5 million
|
| Greenshoe: | $140,783
|
| Units: | 41,666,700
|
| Price: | $0.12
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Five years, 90 days
|
| Manager: | Roth Capital Partners, LLC
|
| Announcement date: | June 20
|
| Pricing date: | June 21
|
| Settlement date: | June 26
|
| Stock symbol: | Nasdaq: PGRX
|
| Stock price: | $0.28 at close June 20
|
| Market capitalization: | $6.53 million
|
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