Emerald Oil intends to price public sale of 15 million common shares

Credit Suisse, Canaccord Genuity, Johnson Rice will assist with deal

By Devika Patel

Knoxville, Tenn., Sept. 23 - Emerald Oil, Inc. said it will price a public offering of 15 million common shares with a 30-day greenshoe option of 2.25 million additional shares.

Credit Suisse is the sole bookrunner. Canaccord Genuity and Johnson Rice & Co. are the co-lead managers.

The company also plans a private placement of about 4,645,102 shares with WDE Emerald Holdings LLC and White Deer Energy FI LP at the same price per share as the stock sold in the public sale.

Proceeds will be used for development and growth plans, leasing and acquisitions, capital expenditures and general corporate purposes.

Emerald is a Denver-based oil exploration and production company.

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