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Emerald Oil Inc Announces Offering Of Common Stock

Monday, 13 May 2013 08:00am EDT 

Emerald Oil Inc announced it intends to commence an underwritten public offering of 10,000,000 shares of the Company's common stock. The Company intends to use the net proceeds from this offering, along with cash on hand, cash flow from operations, proceeds from the sale of assets and additional borrowings under the credit facility, to fund the capital budget in 2013 and for general corporate purposes, including working capital. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. Canaccord Genuity and Johnson Rice & Company are acting as joint book-running managers of the offering. 

Company Quote

0.09 +7.50%
19 Dec 2014