Par Pacific Holdings Inc. agreed to sell 3.4 million common shares priced at $22 each, for gross proceeds of about $74.8 million, the company said Nov. 23.
The net proceeds of about $73.74 million will support working capital and general corporate purposes, Par said. The offering is scheduled to close Nov. 25.
The shares are expected to be sold to certain shareholders and other investors who will be subject to a six-month lockup period with respect to the shares sold, in a registered direct offering without an underwriter or placement agent.
Par Pacific Holdings Inc. is based in Houston.
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