Company sells 2,785,600 shares to WDE Emerald and White Deer Energy
By Devika Patel
Knoxville, Tenn., June 4 - Emerald Oil, Inc. raised about $16.2 million in a private placement of stock with WDE Emerald Holdings LLC and White Deer Energy FI LP on June 4, according to a press release. The deal was announced May 15 and was arranged on May 13.
The company sold 2,785,600 common shares.
Proceeds will fund the company's 2013 capital budget.
Emerald is a Denver-based oil exploration and production company.
| Issuer: | Emerald Oil, Inc.
|
| Issue: | Common stock
|
| Amount: | $16.2 million (approximate)
|
| Shares: | 2,785,600
|
| Warrants: | No
|
| Investors: | WDE Emerald Holdings LLC and White Deer Energy FI LP
|
| Announcement date: | May 15
|
| Pricing date: | May 13
|
| Settlement date: | June 4
|
| Stock symbol: | NYSE: EARN
|
| Stock price: | $6.90 at close May 10
|
| Market capitalization: | $160.06 million
|
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