Finance & Investing | Deals - Acquisition, Mergers, Divestitures | Capital Markets | Private Equity Activity
After Multiple Delays, Cubic Lands Financing to Fund Eaglebine Deal
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Cubic Energy, Inc. has obtained a non-binding commitments for up to $107,000,000 of financing.
Such financing is subject to satisfactory diligence and documentation at the potential investors' discretion, and the closing of an additional acquisition. This financing is intended for the acquisition of the Gastar Exploration Texas, LP East Texas properties, drilling and working capital, potential additional acquisitions, and payment toward existing debt.
In consideration of the above, Gastar has agreed to extend the closing date of the purchase of the Gastar East Texas properties until September 20, 2013. In consideration for such extension, Cubic has agreed to increase the purchase price to be paid for the Gastar East Texas assets by One Million Dollars ($1,000,000). This additional payment…
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