Company sells 2,250,680 common shares at $4.00 per share in two deals
By Devika Patel
Knoxville, Tenn., Jan. 20 - Ring Energy, Inc. completed a $4.67 million private placement of stock on Dec. 23, according to an 8-K filed Friday with the Securities and Exchange Commission. It also negotiated another private placement of stock on Dec. 23, in which it has raised $4.33 million so far.
In the first offering, the company sold 1,167,500 common shares at $4.00 apiece.
The company sold 1,083,180 common shares at $4.00 per share in the second placement.
The per-share price is identical to the Dec. 22 closing share price.
Ring Energy is an oil and gas company based in Redlands, Calif.
| Issuer: | Ring Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $9,002,720
|
| Price: | $4.00
|
| Warrants: | No
|
| Stock symbol: | Pink Sheets: RNGE
|
| Stock price: | $4.00 at close Dec. 23
|
| Market capitalization: | $14.23 million
|
|
|
| First deal
|
| Amount: | $4.67 million
|
| Shares: | 1,167,500
|
| Settlement date: | Dec. 23
|
|
|
| Second deal
|
| Amount: | $4,332,720
|
| Shares: | 1,083,180
|
| Pricing date: | Dec. 23
|
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