Emerald Oil Inc. (EOX) announced that it has priced an underwritten public offering of 12.00 million shares of the company's common stock at $6.10 per share.
The company has granted the underwriters a 30-day option to purchase up to an additional 1.80 million shares of common stock.
The company stated that it intends to use the net proceeds from this offering, along with cash on hand and the proceeds from its recently announced private placement with White Deer Energy, cash flow from operations, proceeds from the sale of assets and additional borrowings under the credit facility, to fund its capital budget in 2013.
The company noted that it will use any remaining net proceeds for general corporate purposes, including working capital.
The offering is expected to settle on May 22, 2013, subject to the satisfaction of customary closing conditions.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.