By Devika Patel
Knoxville, Tenn., May 7 - Kodiak Oil & Gas Corp. said it has arranged a $7.5 million non-brokered registered direct offering of stock.
The company will sell 10 million common shares at $0.75 per share.
Settlement is expected on May 11.
Proceeds will be used for drilling and completion activities on Kodiak's leases in the Bakken oil play and for other general corporate activities.
Based in Denver, Kodiak is an oil and natural gas exploration company.
| Issuer: | Kodiak Oil & Gas Corp.
|
| Issue: | Common stock
|
| Amount: | $7.5 million
|
| Shares: | 10 million
|
| Share price: | $0.75
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 7
|
| Settlement date: | May 11
|
| Stock symbol: | Amex: KOG
|
| Stock price: | $0.72 at close May 6
|
| Market capitalization: | $74.2 million
|
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