By Devika Patel
Knoxville, Tenn., Nov. 5 - Maple Energy plc said it negotiated a $30 million 30-month standby equity distribution agreement with YA Global Master SPV Ltd.
The company will sell up to $30 million in ordinary shares to YA Global in multiple tranches. The investor has already bought 247,933 shares at $0.01 apiece.
Proceeds will be used as working capital, including for the Ethanol Project, and for general corporate purposes.
Dublin-based Maple Energy is an independent energy company with operations in Peru.
| Issuer: | Maple Energy plc
|
| Issue: | Standby equity distribution agreement
|
| Amount: | $30 million
|
| Tenor: | 30 months
|
| Warrants: | No
|
| Investor: | YA Global Master SPV Ltd.
|
| Pricing date: | Nov. 5
|
| Stock symbol: | London: MPLE
|
| Stock price: | 81.5p at close Nov. 5
|
| Market capitalization: | £72.7 million
|
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