Company sells 3,529,412 common shares at $0.85 per share in offering
By Devika Patel
Knoxville, Tenn., May 6 - Red Mountain Resources, Inc. concluded a $3 million private placement of stock on May 3, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 3,529,412 common shares at $0.85 apiece. The price per share is a 6.25% premium to $0.80, the May 2 closing share price.
Red Mountain is a Dallas-based energy company.
| Issuer: | Red Mountain Resources, Inc.
|
| Issue: | Common stock
|
| Amount: | $3 million
|
| Shares: | 3,529,412
|
| Price: | $0.85
|
| Warrants: | No
|
| Settlement date: | May 3
|
| Stock symbol: | OTCBB: RDMP
|
| Stock price: | $0.80 at close May 2
|
| Market capitalization: | $88.69 million
|
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