Triangle Petroleum Announces Pricing of Public Offering of Common Stock, Listing on NYSE Amex and Effectiveness of Reverse Stock Split
1 for 10
DENVER, COLORADO, Nov 05, 2010 (MARKETWIRE via COMTEX) -- Triangle Petroleum Corporation (the "Company") (nysx amex:TPLM) (CA:TPO) , an oil and gas exploration and production company with assets in North Dakota and Nova Scotia, announced the pricing of an underwritten public offering of 10,800,000 shares of its common stock at a price to the public of $5.50 per share. The net proceeds to the Company from this offering are expected to be approximately $54.3 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about November 10, 2010, subject to customary closing conditions. The Company has also granted the underwriter a 30-day option to purchase up to an additional 1,620,000 shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by the Company.
|