Emerald Oil Closes 15 Mln. Share Offering

(RTTNews) - Emerald Oil Inc. (EOX) said Wednesday it has completed the sale of 15 million shares of its common stock and that the underwriters have exercised their over-allotment option of an additional 2.25 million of its common stock in full.

All shares of common stock were sold to the public at an offering price of $6.70 per share. The resulting net proceeds to the company, after deducting underwriting discounts and other expenses, were about $109.7 million.

In connection with the common stock offering, Credit Suisse Securities (USA) LLC acted as book-running manager and Canaccord Genuity Inc. and Johnson Rice & Company L.L.C. acted as co-lead managers.