Business
Hyperdynamics Announces $6.33 Million in Gross Proceeds from Common Stock and Warrants Offering
Hyperdynamics Announces $6.33 Million in Gross Proceeds from Common Stock and Warrants Offering.
About this update from Hyperdynamics Corp
[{"type":"text","content":"\n\n\n\nHyperdynamics Announces $6.33 Million in Gross Proceeds from Common Stock and Warrants Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nHyperdynamics Announces $6.33 Million in Gross Proceeds from Common Stock and Warrants Offering\nPR Newswire\nHOUSTON, June 7, 2017\n\n\n\nHOUSTON, June 7, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) (\"Hyperdynamics\" or the \"Company\"), announced today the closing of a private placement offering (the \"Offering\") of Units of the Company's securities each consisting of (i) one share of the Company's common stock and (ii) a warrant to purchase three-quarters (¾) of a share of the Company's common stock within two years at an exercise price of $1.825 per whole share. The purchase price was $1.46 per Unit. The warrants will have \"weighted average\" adjustment anti-dilution protection.\n\nThe Company closed on gross proceeds of $6,330,000 (before placement agent fees and expenses of the offering). Hyperdynamics CEO, Ray Leonard, commented, \"I would like to thank all investors who participated in the Offering. This was a timely closing as we have signed final closing documents on the Farmout Agreement with our partner SAPETRO. This capital will be used to pay a part of our portion of costs of drilling operations, shared from today 50/50 with SAPETRO.\" \n\nKatalyst Securities acted as placement agent for the Offering, on a reasonable best efforts basis. \n\nThe offer and sale of the foregoing securities were made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws. The Offering was exempt from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D thereunder. The Units were sold to \"accredited investors,\" as defined in Regulation D.  Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of t...