MiningNewsBreaks – Ring Energy, Inc. (NYSE American: REI) Prices $60 Million Public Offering to Reduce Debt
Ring Energy (NYSE American: REI) announced the pricing of its underwritten public offering of 44,444,445 shares of common stock at $1.35 per share, generating expected gross proceeds of approximately $60 million, excluding any exercise of the underwriters’ option to purchase additional shares. The company said net proceeds will primarily be used to repay outstanding borrowings under its senior secured revolving credit facility, with any remaining funds allocated to general corporate purposes, while Mizuho, BofA Securities and Raymond James are serving as joint book-running managers for the offering. To view the full press release, visit https://ibn.fm/txeqj About Ring Energy, Inc. Ring Energy, Inc. is a growth oriented independent oil and…