Ring Energy Inc. (NYSE American: REI) announced the pricing of its public offering of 44,444,445 shares of common stock at $1.35 per share. The offering is expected to generate approximately $60 million in gross proceeds before underwriting discounts and expenses.

The company granted underwriters a 30-day option to purchase up to an additional 6,666,666 shares under the same terms. The offering is scheduled to close on or about May 14, 2026, subject to customary closing conditions.

Ring Energy plans to use the net proceeds primarily to repay outstanding borrowings under its senior secured revolving credit facility, with any remaining funds allocated for general corporate purposes.

Mizuho, BofA Securities and Raymond James are serving as joint book-running managers for the offering. A.G.P./Alliance Global Partners, Roth Capital Partners, and Tuohy Brothers are acting as co-managers.

The offering is being conducted under an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. The company has filed a preliminary prospectus supplement and accompanying prospectus, with final documents to be filed with the SEC.

Ring Energy is an independent oil and natural gas exploration and production company based in The Woodlands, Texas. The company focuses on development and production activities in the Permian Basin of Texas, targeting oil and liquids-rich formations in the Northwest Shelf and Central Basin Platform.