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Ring Energy Inc announces completion of public common stock offering of 5,750,000 shares

Wednesday, 11 Dec 2013 04:05pm EST 

Ring Energy Inc:Says it has completed the sale of 5,750,000 shares of its common stock, including 750,000 shares covering the over-allotment option exercised by the underwriters, resulting in gross proceeds of $57.5 million.Says net proceeds of about $54.3 million, after deducting underwriting commissions and estimated offering expenses payable by the company.Says SunTrust Robinson Humphrey, Inc. acted as sole book-running manager.Says Capital One Securities, Inc., Global Hunter Securities, LLC, Euro Pacific Capital Inc., IBERIA Capital Partners L.L.C., Noble Financial Capital Markets, Northland Capital Markets, and Roth Capital Partners, LLC, acted as co-managers for the offering.Says it intends to use the net proceeds from the offering to fund drilling and development of its properties, to pay for additional leases of oil and gas properties, to pay down borrowings under its credit facility.Says to pay for acquisitions of oil and gas properties in and around existing properties. 

Company Quote

0.27 +1.48%
11 Jul 2014