Offering funds acquisition opportunities, drilling and working capital
By Devika Patel
Knoxville, Tenn., Feb. 1 - Voyager Oil & Gas, Inc. said it arranged a private placement of units. The deal will raise $50 million.
The company will sell 12.5 million units of one common share and a half-share warrant at $4.00 per unit. The whole warrants are exercisable at $7.10 for five years.
The warrant strike price reflects a 56.39% premium to the Jan. 31 closing share price of $4.54 and is also 150% of the average closing price of the shares for the five days ended Jan. 31, the company said.
Canaccord Genuity, Inc. is the lead agent. Rodman & Renshaw, LLC, Dougherty & Co., LLC, C. K. Cooper & Co., Inc., Wunderlich Securities, Inc., Global Hunter Securities, LLC and Feltl and Co. are the co-placement agents.
Settlement is expected Feb. 4.
Proceeds will be used to pursue acreage acquisition opportunities, to fund the company's accelerated drilling program and for working capital.
Voyager is an oil and gas exploration and production company based in Billings, Mont.
| Issuer: | Voyager Oil & Gas, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $50 million
|
| Units: | 12.5 million
|
| Price: | $4.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.10
|
| Agents: | Canaccord Genuity, Inc. (lead), Rodman & Renshaw, LLC, Dougherty & Co., LLC, C. K. Cooper & Co., Inc., Wunderlich Securities, Inc., Global Hunter Securities, LLC and Feltl and Co.
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 4
|
| Stock symbol: | OTCBB: VYOG
|
| Stock price: | $4.54 at close Jan. 31
|
| Market capitalization: | $219.92 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
