SunTrust Robinson Humphrey, Seaport Global and Euro Pacific to assist
By Devika Patel
Knoxville, Tenn., June 18 – Ring Energy, Inc. said it priced a $51.75 million public sale of stock with a $7.76 million greenshoe. The deal was announced Wednesday.
The company will sell 4.5 million common shares at $11.50 per share. The price per share is an 11.54% discount to the June 17 closing share price of $13.00.
SunTrust Robinson Humphrey, Inc. is the bookrunner.
Settlement is expected June 23.
Proceeds will be used for the company’s planned acquisition of producing wells and leaseholds in Texas and general corporate purposes.
Ring Energy is an oil and gas company based in Redlands, Calif.
| Issuer: | Ring Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $51.75 million
|
| Greenshoe: | $7,762,500, or 675,000 shares
|
| Shares: | 4.5 million
|
| Price: | $11.50
|
| Warrants: | No
|
| Bookrunners: | SunTrust Robinson Humphrey, Inc.
|
| Co-managers: | Seaport Global Securities LLC and Euro Pacific Capital Inc. (senior), Iberia Capital Partners LLC, Northland Capital Markets, Roth Capital Partners and Ladenburg Thalmann
|
| Announcement date: | June 17
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Stock symbol: | NYSE REI
|
| Stock price: | $13.00 at close June 17
|
| Market capitalization: | $297.71 million
|
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