Pedevco Corp. (PED) Prices 5.19M Share Common Offering at $1.50/Sh

PEDEVCO Corp. (NYSE: PED) today announced the pricing of an underwritten public offering of 5,190,000 shares of common stock (the "Shares") at a public offering price of $1.50 per Share, for gross proceeds to the Company of approximately $7.8 million, before deducting underwriting discounts and other offering expenses.

Kingswood Capital Markets, division of Benchmark Investments, Inc. is acting as the sole book runner for the offering.

The offering is expected to close on or about February 5, 2021, subject to customary closing conditions. In connection with the offering, the Company has also granted the underwriters a 45-day option to purchase up to an additional 15% of the number of Shares offered to the public at the public offering price, less underwriting discounts, for covering over-allotments, if any. If the over-allotment option is exercised in full, it would increase the total gross proceeds of the offering to approximately $8.9 million.

You May Also Be Interested In

• Standard Nuclear files for downsized IPO
• Crescent Biopharma prices $125M public offering of shares and warrants
• Glass House Brands updates ATM program to allow NYSE share sales