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Lucas Energy Details $2 Million Equity Offering

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April 16, 2014

Lucas Energy Inc. (NYSE: LEI) detailed a $2 million equity offering April 16. Pursuant to an agreement with Ironman Energy Master Fund and John B. Helmers of Long Focus Capital Management, Lucas Energy will sell 3,333,332 common units priced at 60 cents each, the company said.

The units are comprised of one common share plus share purchase warrants, Lucas Energy said. The warrants allow 1,666,666 common shares to be purchased at $1 each at a five-year term, the company added.

Net proceeds will support oil and natural gas development, as ...

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