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Lilis Energy Closes $7.5 Million Private Equity Placement

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January 22, 2014

Lilis Energy Inc. (NasdaqGS: LLEX) closed $7.5 million in a private equity placement, the company said Jan. 22. The restricted units in the private placement consist of one common share and one common stock purchase warrant. At $2 per unit, 3,750,000 of these units were sold, Lilis Energy added.

Purchase warrants are exercisable for three years, at $2.50 per share, beginning six months from the issuance date, the company said.

"The confidence and commitment exemplified by our shareholders, directors and management, who are participating in this financing is especially gratifying," ...

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