Business
Barnwell Industries, Inc. Announces Closing of Previously Announced Private Placement Led by Bradley Radoff
HONOLULU, HI / ACCESS Newswire / December 3, 2025 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today announced that it has closed its previously announced private placement of common stock and warrants raising gross ...
About this update from Barnwell Industries, Inc.
[{"type":"text","content":"HONOLULU, HI / ACCESS Newswire / December 3, 2025 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today announced that it has closed its previously announced private placement of common stock and warrants raising gross proceeds of approximately $2.4 million from accredited investors.","length":334,"tagName":"p"},{"type":"text","content":"Under the terms of the transaction, Barnwell issued an aggregate of 2.2 million shares of common stock at a purchase price of $1.10 per share. In addition, purchasers of the common stock, other than members of the Company's Board of Directors or management and one other purchaser, received warrants to purchase up to 1.0 million additional shares of common stock at an exercise price of $1.65per share, with a term of 3years (collectively, the "Securities") following a six month period during which they cannot be exercised. The Securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.","length":788,"tagName":"p"},{"type":"text","content":"Philip Patman, Jr., Executive Vice President of Finance and Director, commented:"We are pleased to complete this financing, which provides additional financial flexibility as we continue to advance operational priorities and evaluate opportunities to enhance long-term shareholder value."","length":299,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the private placement for general corporate purposes, including strengthening its balance sheet, supporting existing operations, and pursuing strategic initiatives.","length":213,"tagName":"p"},{"type":"text","content":"Additional details regarding the private placement are available in the Company's filings with the Securities and Exchange Commission.","length":138,"tagName":"p"},{"type":"text","content":"Important Information","length":21,"tagName":"p"},{"type":"text","content":"The offer and sale of the foregoing securities were made in a private placement in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)...