By Devika Patel
Knoxville, Tenn., Sept. 18 - Hallador Petroleum Co. raised $24.9 million in a private placement of shares on Sept. 15, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 4.15 million common shares at $6.00 per share.
Proceeds were used to purchase membership interests in Sunrise Coal, LLC.
Denver-based Hallador is an oil and natural gas exploration company.
| Issuer: | Hallador Petroleum Co.
|
| Issue: | Common stock
|
| Amount: | $24.9 million
|
| Shares: | 4.15 million
|
| Price: | $6.00
|
| Warrants: | No
|
| Settlement date: | Sept. 15
|
| Stock symbol: | OTCBB: HPCO
|
| Stock price: | $6.75 at close Sept. 15
|
| Market capitalization: | $152 million
|
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