Offer sells 9.3 million common shares at $6.00 apiece to NGP Triangle
By Devika Patel
Knoxville, Tenn., March 4 - Triangle Petroleum Corp. arranged a $55.8 million private placement of stock with NGP Triangle Holdings, LLC on March 2, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell 9.3 million common shares at $6.00 apiece. The price per share is a 6.4% discount to the March 1 closing share price of $6.41.
Calgary, Alta.-based Triangle Petroleum is an oil and gas exploration company.
| Issuer: | Triangle Petroleum Corp.
|
| Issue: | Common stock
|
| Amount: | $55.8 million
|
| Shares: | 9.3 million
|
| Price: | $6.00
|
| Warrants: | No
|
| Investor: | NGP Triangle Holdings, LLC
|
| Pricing date: | March 2
|
| Stock symbol: | NYSE: TPLM
|
| Stock price: | $6.41 at close March 1
|
| Market capitalization: | $281.28 million
|
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