Emerald Oil Receives Commitment From White Deer to Acquire Common Stock; Shares Tumble 9%

By
A A A

Emerald Oil ( EOX ) is tumbling 8.84% in mid-day action to $6.29 after the company signed a definitive agreement with affiliates of private equity firm White Deer Energy to issue and sell shares of the company's common stock.

Inclusive of the warrants already held by White Deer, the shares to be sold equal 19.9% of the company's common stock outstanding immediately after the closing of the company's previously announced public offering at a 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.

EOX trades within a 52-week range of $3.90 - $15.11.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: EOX

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

55,414,702
  • $15.38 ▼ 0.39%
38,503,210
  • $66.34 ▲ 2.26%
36,466,704
  • $8.36 ▼ 9.52%
35,253,294
  • $26.55 ▲ 1.34%
32,752,347
  • $6.55 ▲ 1.87%
31,778,001
  • $95.22 ▲ 0.19%
28,396,556
  • $51.49 ▼ 0.62%
23,800,987
  • $42.09 ▲ 0.97%
As of 7/11/2014, 04:03 PM