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Article: Northern Oil and Gas Announces $59.3 Million Registered Direct Offering of Common Stock.
- Article from:
- Energy Weekly News
- Article date:
- November 20, 2009
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Northern Oil and Gas, Inc. (NYSE Amex: NOG) ("Northern Oil") announced that it entered into definitive agreements to sell 6.5 million shares of its common stock at $9.12 per share in a registered direct offering. Net proceeds to Northern Oil after deduction of agency fees and estimated expenses will be approximately $56.2 million. The transaction is expected to close on November 4, 2009, subject to customary closing conditions.
Northern Oil intends to use the proceeds from the offering to repay the current borrowings under its ...