Offering sells 200 million shares to finance operations, exploration
By Devika Patel
Knoxville, Tenn., Sept. 15 – Dinoco Oil, Inc. priced a $50 million public offering of stock, according a Form S-1 filed Monday with the Securities and Exchange Commission.
The company will sell 200 million class B common shares at $0.25 per share on a best-efforts, self-underwritten basis.
Proceeds will be used for general operations, exploration and drilling, marketing and acquisitions.
The exploration-stage oil and natural gas company is based in San Antonio.
| Issuer: | Dinoco Oil, Inc.
|
| Issue: | Class B common stock
|
| Amount: | $50 million
|
| Shares: | 200 million
|
| Price: | $0.25
|
| Warrants: | No
|
| Pricing date: | Sept. 15
|
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