Offering sells 1.25 billion shares to finance operations, exploration
By Devika Patel
Knoxville, Tenn., Jan. 7 – Dinoco Oil, Inc. repriced a $50 million public offering of stock, according a Form S-1A filed Wednesday with the Securities and Exchange Commission. The deal priced at $0.25 per share on Sept. 15.
The company will sell 1.25 billion class B common shares at $0.04 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.
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Issue: | Class B common stock
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Amount: | $50 million
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Shares: | 1.25 billion
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Price: | $0.04
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Warrants: | No
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Pricing date: | Sept. 15
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Revised: | Jan. 7
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