Gas explorer offers 1 million shares at $1.20 apiece to two investors
By Devika Patel
Knoxville, Tenn., Oct. 22 - EFL Overseas, Inc. settled a $1.2 million private placement of stock on Oct. 18, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1 million common shares at $1.20 apiece to two investors. The per-share price represents a 51.02% discount to the Oct. 17 closing share price of $2.45.
The gas explorer is based in Houston.
| Issuer: | EFL Overseas, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.2 million
|
| Shares: | 1 million
|
| Price: | $1.20
|
| Warrants: | No
|
| Settlement date: | Oct. 18
|
| Stock symbol: | OTCBB: EFLO
|
| Stock price: | $2.45 at close Oct. 17
|
| Market capitalization: | $19.69 million
|
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