NOG expects gross proceeds of the offering to be approximately $252.7 million. (Source: Shutterstock)
Northern Oil and Gas Inc. (NOG) announced the pricing of its previously announced underwritten public offering of 6.5 million shares of common stock in an Oct. 10 release.
The company expects gross proceeds of the offering to be approximately $252.7 million, which will be used for general corporate purposes, including repayment of a portion of outstanding borrowings from its revolving credit facility.
Northern Oil and Gas granted underwriters a 30-day option to purchase up to an additional 975,000 of company shares. The offer is expected to end Oct. 13, subject to customary closing conditions.
Citigroup is serving as the sole book-running manager for the offering.
Recommended Reading
Energy Transition in Motion (Week of Oct. 27, 2023)
2023-10-27 - Here is a look at some of this week’s renewable energy news, including a battery manufacturer's $1.2 billion Arizona battery facility and the U.S. entry of Belgium-based electrolyzer manufacturer John Cockerill Hydrogen.
Energy Transition in Motion (Week of Sept. 22, 2023)
2023-09-22 - Here is a look at some of this week’s renewable energy news, including First Solar’s $1.1 billion solar panel facility groundbreaking in Louisiana.
Energy Transition in Motion (Week of Dec. 8, 2023)
2023-12-08 - Here is a look at some of this week’s renewable energy news, including a continued growth streak for U.S. solar.
Energy Transition in Motion (Week of Nov. 17, 2023)
2023-11-17 - Here is a look at some of this week’s renewable energy news, including Dominion Energy’s latest battery storage partnership.
Energy Transition in Motion (Week of Oct. 6, 2023)
2023-10-06 - Here is a look at some of this week’s renewable energy news, including a proposal by Dominion Energy to develop a dozen solar projects in Virginia.