Company sells 5,092,852 shares to WDE Emerald and White Deer Energy
By Devika Patel
Knoxville, Tenn., Oct. 17 - Emerald Oil, Inc. took in about $32.5 million in a private placement of stock with WDE Emerald Holdings LLC and White Deer Energy FI LP on Oct. 17, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced on Sept. 23.
The company sold 5,092,852 common shares.
Proceeds will be used to accelerate development and growth plans and for leasing, acquisitions, capital expenditures and general corporate purposes.
Emerald is a Denver-based oil exploration and production company.
| Issuer: | Emerald Oil, Inc.
|
| Issue: | Common stock
|
| Amount: | $32.5 million (approximate)
|
| Shares: | 5,092,852
|
| Warrants: | No
|
| Investors: | WDE Emerald Holdings LLC and White Deer Energy FI LP
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 17
|
| Stock symbol: | NYSE: EARN
|
| Stock price: | $6.90 at close Sept. 22
|
| Market capitalization: | $160.06 million
|
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