Emerald Oil Inc. (NYSE: EOX) priced its underwritten public offering of 15 million shares of common stock at $6.70 per share.
The company has granted the underwriters a 30-day option to purchase up to some 2.3 million additional shares. The offering is expected to settle on Oct. 2, subject to the satisfaction of customary closing conditions.
Net proceeds will be used to accelerate development and growth plans, finance in whole or in part, the cost of leasing and acquisitions and finance capital expenditures, and general corporate purposes.
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