By Sheri Kasprzak
New York, Sept. 14 - Toreador Resources Corp. said it has received a definitive agreement from institutional investors for a $25 million private placement of stock.
The company will issue 806,450 shares at $31.00 each, a 9.4% discount to the company's closing stock price of $34.20 on Sept. 9.
The offering is scheduled to close Thursday.
The proceeds will be used for exploration and development in 2005 and for general corporate purposes.
Based in Dallas, Toreador is an oil and natural gas exploration, development, acquisition and production company.
| Issuer: | Toreador Resources Corp.
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| Issue: | Stock
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| Amount: | $25 million
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| Shares: | 806,450
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| Price: | $31.00
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| Warrants: | No
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| Announcement date: | Sept. 14
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| Settlement date: | Sept. 15
|
| Stock price: | $33.13 at close Sept. 13
|
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