Published on 6/29/2012 in the Prospect News PIPE Daily.
EFL Overseas sells $810,000 of shares through private placement
Gas explorer offers 675,000 shares at $1.20 apiece, a 53.85% discount
By Devika Patel
Knoxville, Tenn., June 29 - EFL Overseas, Inc. settled an $810,000 private placement of stock from June 25 through June 28, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 675,000 common shares at $1.20 apiece. The per-share price represents a 53.85% discount to the June 22 closing share price of $2.60.
The gas explorer is based in Houston.
| Issuer: | EFL Overseas, Inc.
|
| Issue: | Common stock
|
| Amount: | $810,000
|
| Shares: | 675,000
|
| Price: | $1.20
|
| Warrants: | No
|
| Settlement date: | June 25 through June 28
|
| Stock symbol: | OTCBB: EFLO
|
| Stock price: | $2.60 at close June 22
|
| Market capitalization: | $18.13 million
|
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