Proceeds to be used for general working capital purposes, company says
By Devika Patel
Knoxville, Tenn., Jan. 15 - SSP Offshore Inc. said it plans a $1.5 million non-brokered private placement of stock with Huludao Jiangzhe Marine & Offshore Equipment Co., Ltd.
The company will sell 7,125,000 common shares at $0.21 apiece, which is a 75% premium to the Jan. 14 closing share price of $0.12.
Proceeds will be used for general working capital purposes.
The oil and gas company is based in Houston.
| Issuer: | SSP Offshore Inc.
|
| Issue: | Common shares
|
| Amount: | $1,496,250
|
| Shares: | 7,125,000
|
| Price: | $0.21
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Huludao Jiangzhe Marine & Offshore Equipment Co., Ltd.
|
| Pricing date: | Jan. 15
|
| Stock symbol: | OTCBB: SSZZF
|
| Stock price: | $0.12 at close Jan. 14
|
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