Contango Oil & Gas (MCF) Announces Private Equity Capital Raise
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October 26, 2020 6:35 AM EDT
HOUSTON, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (Contango or the Company) today announced the execution of an agreement with a select group of institutional and accredited investors to sell 26,451,988 shares of common stock in a private placement. The Company expects to receive gross proceeds from the equity capital raise of approximately $39.7 million, which it intends to use in connection with the Companys concurrently announced pending merger with Mid-Con Energy Partners, LP, and general corporate purposes, including repayment of debt outstanding under its revolving credit facility. The closing is... More
October 26, 2020 6:30 AM EDT
FORT WORTH, Texas and TULSA, Okla., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (Contango) (NYSE American: MCF) and Mid-Con Energy Partners, LP (Mid-Con) (NASDAQ: MCEP) today announced they have entered into an agreement to combine in an all-stock merger transaction. The combination continues Contangos consolidation strategy, increases its exposure to oil reserves at an attractive price, increases corporate margins via scale and further cost rationalization, and amplifies Contangos ability to play offense amid the dislocation in the sector, while providing Mid-Cons unitholders with greater liquidity, financial... More
