Emerald Oil (EOX) Prices 93.8M Offering at 80c/Share

Emerald Oil (AMEX: EOX) as priced a public offering of 93,750,000 shares of its common stock to the public at $0.80 per share. The gross proceeds to Emerald from the offering are expected to be $75.0 million, and the net proceeds are expected to be approximately $69.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses. Emerald expects to close the sale of the shares of common stock on September 28, 2012, subject to customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 15% of the offered amount of common stock from Emerald at the offering price, less underwriters' discounts and commissions, solely to cover over-allotments.

Emerald expects to use the net proceeds from this offering, along with cash on hand, to repay a portion of its outstanding indebtedness, fund its drilling and development expenditures and leasehold acquisitions, including its recently announced proposed leasehold acquisition, and for general corporate purposes, including working capital.

Johnson Rice & Company L.L.C., Canaccord Genuity Inc. and Macquarie Capital (USA) Inc. are acting as the joint book-running managers and Global Hunter Securities, LLC and KLR Group are acting as co-managers for the offering.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Lithium Americas Corp (LAC) Prices 55M Share Offering at $5/sh
• Norfolk Southern (NSC) corrects Ancora's false and misleading statements
• Pros Holdings (PRO) Appoints Todd McNabb as Chief Revenue Officer