With ROTH Capital Partners LLC as its sole book-running manager, Pacific Energy Development Corp. (NYSE MKT: PED) priced an underwritten public offering of 2,990,000 common shares at $2.15 each, for gross proceeds of $6,428,500, ROTH Capital said March 21.
Gross proceeds totaled $7,392,775 after the underwriters’ option to purchase up to 448,500 additional shares was exercised, ROTH Capital noted, adding that option’s exercise resulted in an additional $964,275 in revenue.
ROTH Capital Partners, based in Newport Beach, Calif., is a full-service investment bank.
Danville, Calif.-based Pacific Energy Development Corp. acquires and develops shale and natural gas onshore in the U.S., as well as in Asia.
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