By Laura Lutz
Washington, Feb. 8 - RSX Energy Inc. increased the size of its previously announced private placement to C$11.032 million C$10.029 million.
The placement will now include 1.18 million non flow-through shares, up from 885,000 when the deal priced on Wednesday. The number of flow-through shares in the offering remains unchanged at 1.56 million.
The non flow-through shares will be priced at C$3.40 each and the flow-through shares at C$4.50 each.
A syndicate led by Raymond James Ltd. and including Haywood Securities Inc. and Acumen Capital Finance Partners Ltd. will underwrite the deal.
Proceeds will be used for the company's summer drilling program and to partially repay its credit facility.
Settlement is expected on March 1.
RSX is a Calgary, Alta.-based oil and gas company.
| Issuer: | RSX Energy Inc.
|
| Issue: | Non flow-through shares and flow-through shares
|
| Amount: | C$11.032
|
| Underwriters: | Raymond James Ltd. (lead), Haywood Securities Inc., Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Feb. 7
|
| Upsized: | Feb. 8
|
| Settlement date: | March 1
|
| Stock symbol: | TSX Venture: RSX
|
| Stock price: | C$3.80 at close Feb. 7
|
|
|
| Non flow-through shares
|
| Shares: | 1.18 million
|
| Price: | C$3.40
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 1.56 million
|
| Price: | C$4.50
|
| Warrants: | No
|
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