Obsidian Energy Announces Pricing and Filing of Amended and Restated Preliminary Prospectus

About this update from Obsidian Energy Ltd

[{"type":"text","content":"Obsidian Energy Announces Pricing and Filing of Amended and Restated Preliminary ProspectusCalgary, Alberta--(Newsfile Corp. - November 4, 2021) - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to announce that it has filed an amended and restated preliminary short form prospectus (the \"Amended and Restated Prospectus\") in connection with its previously announced marketed offering (the \"Offering\") of subscription receipts of the Company (\"Subscription Receipts\"). The Amended and Restated Prospectus provides that the price of the Subscription Receipts to be issued and sold pursuant to the Offering will be $4.40 per Subscription Receipt for gross proceeds of up to $22.5 million. The Offering is being conducted on a \"best efforts\" agency basis by a syndicate of agents (the \"Agents\"). The Agents have advised Obsidian Energy that they expect the maximum Offering size will be reached.The Company has granted the Agents an option (the \"Over-Allotment Option\") to offer and sell that number of additional Subscription Receipts as is equal to 15 percent of the aggregate number of Subscription Receipts sold under the Offering on the same terms and conditions as the Offering. The Over-Allotment Option is exercisable at any time for a period of 30 days after the closing of the Offering.The Subscription Receipts will be offered in all Canadian provinces, excluding Québec, by way of a short form prospectus, and in the United States on a private placement basis to a limited number of \"accredited investors\" pursuant to the registration exemption provided by Rule 506(b) of Regulation D under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"). In connection with the forgoing, the Company has filed the Amended and Restated Prospectus in each of the provinces of Canada, other than Québec, amending and restating the preliminary short form prospectus filed on November 2, 2021. There will not be any sale of Subscription Receipts until a receipt for the final short form prospectus has been issued.The net proceeds from the Offering will used by the Company to facilitate the funding of a portion of the purchase price of the acquisition of the remaining 45% non-operated working interest in the Company's Peace River Oil Partners...

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