Harvest Natural Resources Inc. (HNR) said that it entered into an equity distribution agreement with Knight Capital America, L.P. or "KCA", a subsidiary of Knight Capital Group Inc., relating to an "at-the-market" or "ATM" offering of shares of common stock having an aggregate sales price of up to $75 million.
As per the terms of the Agreement, Harvest may offer and sell shares of its common stock by means of transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market price or at negotiated rates. Harvest expects to use any proceeds from this offering for general corporate purposes, including but not limited to repayment of outstanding borrowings.
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