Northern Oil and Gas Inc. (AMEX: NOG) has commenced an underwritten public offering of $105 million of shares of its common stock, par value $0.001 per share, the company said on March 19.
The underwriters will be granted a 30-day option to purchase up to an aggregate value of $15.75 million of additional shares of common stock.
Stifel, Nicolaus & Co. Inc. is acting as the sole book-running manager for the offering.
The company intends to use the net proceeds from this offering to continue to pursue acquisition opportunities, to fund its drilling program and for general corporate purposes (other than the repayment of debt).
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