Northland Capital Markets assists in funding acquisition opportunities
By Devika Patel
Knoxville, Tenn., Feb. 1 - American Standard Energy Corp. said it completed a private placement of units. It raised $15.41 million via agent Northland Capital Markets.
The company sold 4,401,930 units of one common share and two quarter-share warrants at $3.50 per unit.
The warrants are exercisable for five years.
Proceeds will be used to pursue acquisition opportunities, to expand drilling and for working capital.
Based in Danbury, Conn., American Standard is an oil exploration and production company.
| Issuer: | American Standard Energy Corp.
|
| Issue: | Units of one common share and two quarter-share warrants
|
| Amount: | $15,406,755
|
| Units: | 4,401,930
|
| Price: | $3.50
|
| Warrants: | Two quarter-share warrants per unit
|
| Warrant expiration: | Five years
|
| Agent: | Northland Capital Markets
|
| Settlement date: | Feb. 1
|
| Stock symbol: | OTCBB: ASEN
|
| Stock price: | $5.00 at close Feb. 1
|
| Market capitalization: | $53.9 million
|
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