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Eagle Ford Co. Lucas to Raise $3.33MM in Direct Stock Offering

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Eagle Ford Co. Lucas to Raise $3.33MM in Direct Stock Offering

Lucas Energy Inc. has entered into an agreement with Ironman Capital Management LLC for two of its energy sector funds to purchase a total of approximately $3.33 million of the Company's common stock. 

The transaction was priced at $1.17 per share, a 5% discount to the per share closing price on Tuesday, September 3, 2013 when the deal was priced.  Other investors purchased $0.12 million worth of shares under the same terms and conditions which was a straight discounted equity purchase devoid of warrants or other incentives.  Euro Pacific Capital, Inc. acted as the sole placement agent in connection with the expected $3.45 million offering.  The closing of the offering is expected to take place on or about September 6, 2013 subject to the satisfaction of customary closing conditions.

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