Company offers 115.7 million ordinary shares at 2.5p, a 7.41% discount
By Devika Patel
Knoxville, Tenn., Jan. 17 - Nighthawk Energy plc said it conditionally raised £2.89 million in a private placement of stock.
The company sold 115.7 million ordinary shares at 2.5p per share, a 7.41% discount to the Jan. 16 closing share price of 2.7p.
Nighthawk also sold 10 million zero-coupon unsecured loan notes for £10 million. The notes are convertible at 2.5p per share.
Proceeds from both offerings will be used to acquire a 25% working interest in the Jolly Ranch Project from Running Foxes for $12.5 million and for working capital.
Nighthawk Energy is a Bristol, England-based company that produces, explores for and invests in hydrocarbons.
| Issuer: | Nighthawk Energy plc
|
| Issue: | Ordinary shares
|
| Amount: | £2,892,500
|
| Shares: | 115.7 million
|
| Price: | 2.5p
|
| Warrants: | No
|
| Settlement date: | Jan. 17
|
| Stock symbol: | London: HAWK
|
| Stock price: | 2.7p at close Jan. 16
|
| Market capitalization: | £12.34 million
|
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