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Article: Boulder-Based Ellora Energy Completes $40 Million Private Placement.
- Article from:
- Energy Resource
- Article date:
- March 6, 2009
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ENERGY RESOURCE-6 March 2009-Boulder-Based Ellora Energy Completes $40 Million Private Placement(C)2009 JeraOne - http://www.jeraone.com
Ellora Energy Inc., an independent oil and gas exploration and production company, has closed a $40 million non-brokered private placement of its Series A 6% Convertible Preferred Stock, the company announced today.
Each share of Series A 6% Convertible Preferred Stock is convertible into 4.4444 shares of common stock, and the shares of Series A 6% Convertible Preferred Stock sold collectively represent approximately 10% of Ellora's outstanding shares of common stock, on an as-converted basis.
Ellora Energy ...