Ring Energy Inc. (REI) closed the sale of 4.5 million common shares for about $52 million in gross proceeds, the company said June 23.
The proceeds will fund part of the acquisition of producing wells and leaseholds in Culberson and Reeves counties, Texas. They will also support general corporate purposes.
SunTrust Robinson Humphrey Inc. was sole book-runner. Seaport Global Securities LLC and Euro Pacific Capital Inc. were senior co-managers. Iberia Capital Partners LLC, Northland Capital Markets, Roth Capital Partners and Ladenburg Thalmann were co-managers.
Ring Energy Inc. is based in Midland, Texas.
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