NetworkNewsBreaks – Ring Energy, Inc. (NYSE: REI) Underwriters Fully Exercise Over-Allotment Option in $82M Public Offering
Ring Energy (NYSE: REI), an oil and gas exploration, development and production company, has closed an underwritten public offering of 6,164,000 shares of its common stock, which includes an additional 804,000 shares of common stock in accordance with the underwriters’ fully-exercised over-allotment option. The shares were sold at the public offering price of $14.00 per share. After deducting the underwriting discount and other estimated offering expenses, Ring Energy’s net proceeds were approximately $82 million. The company plans to use the proceeds from the offering to fund its 2018 capital expenditure program and for other general corporate purposes. To view the…
