Northern Oil And Gas (NOG) Prices 5M Share Public Offering of Common Stock at $17.50/Each

June 17, 2021 6:17 AM EDT

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Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has priced its previously announced underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $17.50 per share (the “Offering”). The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is expected to close on June 21, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated oil and gas properties and interests located in the Permian Basin (the “Permian Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Permian Acquisition and the consummation of the Offering is not a condition to the completion of the Permian Acquisition. If the Permian Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.

Wells Fargo Securities is acting as lead book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or emailing a request to cmclientsupport@wellsfargo.com.



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