By Sheri Kasprzak
New York, Jan. 22 - Rancher Energy Corp. settled another tranche of its previously announced private placement, bringing the total proceeds raised to $76,041,502.
The company most recently sold another 10 million shares at $1.50 each.
On Dec. 21, the company sold 40,694,335 shares at the same price.
The investors received warrants for 50,694,335 shares, exercisable at $1.50 each for five years.
The investors in the offering include LP Rancher Ltd.; Latigo Fund LP; Old Westbury Real Return Fund; Bank sal. Oppenheim; Millennium Global Natural Resources Fund Ltd.; Morgan Stanley Co. for a/c Persistency; Tenor Opportunity Master Fund Ltd.;
VR Global Partners LP; Affaires Financieres SA; Spartan Arbitrage Fund LP; MMCap International Inc.; NBCN Inc.; Jana Piranha Master Fund Ltd.; Passport Global Master; Hound Partners Offshore Fund; Hound Partners, LP; Legent Clearing, LLC;
Resolute Investment Holdings; Rensburg Sheppards Investment Management; PFP Group Ltd.; Barclays Bank plc; Direct Currency Exchange plc; Alliance Trust Pensions Ltd.; The DirectorsMDL Manx Ltd.; PPE Ltd.; Capelin Financial Management; Maypole Contracts Ltd.; and HSBC Private Bank (Suisse) SA.
Knight Capital Markets, LLC was the placement agent.
Proceeds will be used for the acquisition of oil fields in the Powder River Basin of Wyoming. The company recently signed a CO2 supply agreement with Anadarko Petroleum Corp.
Based in Denver, Rancher evaluates older oil and gas fields to determine potential secondary and tertiary recovery.
| Issuer: | Rancher Energy Corp.
|
| Issue: | Stock
|
| Amount: | $76,041,502
|
| Shares: | 50,694,335
|
| Price: | $1.50
|
| Warrants: | For 50,694,335 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.50
|
| Investors: | LP Rancher Ltd.; Latigo Fund LP; Old Westbury Real Return Fund; Bank sal. Oppenheim; Millennium Global Natural Resources Fund Ltd.; Morgan Stanley Co. for a/c Persistency; Tenor Opportunity Master Fund Ltd.; VR Global Partners LP; Affaires Financieres SA; Spartan Arbitrage Fund LP; MMCap International Inc.; NBCN Inc.; Jana Piranha Master Fund Ltd.; Passport Global Master; Hound Partners Offshore Fund; Hound Partners, LP; Legent Clearing, LLC; Resolute Investment Holdings; Rensburg Sheppards Investment Management; PFP Group Ltd.; Barclays Bank plc; Direct Currency Exchange plc; Alliance Trust Pensions Ltd.; The DirectorsMDL Manx Ltd.; PPE Ltd.; Capelin Financial Management; Maypole Contracts Ltd.; and HSBC Private Bank (Suisse) SA
|
| Placement agent: | Knight Capital Markets, LLC
|
| Settlement date: | Jan. 22
|
| Stock symbol: | OTCBB: RNCH
|
| Stock price: | $3.18 at close Jan. 19
|
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