Capital Markets | Private Equity Activity
Emerald Inks Stock Deal with White Deer Energy
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Emerald Oil Inc. has signed a definitive agreement with affiliates of White Deer Energy, an energy private equity firm, to issue and sell a number of the Company's shares of common stock that, inclusive of the warrants held by White Deer, equals 19.9% of the Company's common stock outstanding immediately after the closing of the Company's previously announced proposed public offering.
The purchase price per share equal to the net price per share of the proposed public offering, plus 0.95% of the gross price per share of the proposed public offering. The closing of this private placement is scheduled to occur within ten days business following the closing of the Company's proposed public offering.
The Company intends to use the net proceeds from this private placement, along with the net…
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