HOUSTON, Sept. 13, 2017 /PRNewswire/ — Yuma Energy, Inc. (NYSE American: YUMA) (the “Company” or “Yuma”) today announced that it has commenced an underwritten public offering of its common stock. All of the shares are being offered by Yuma. In addition, Yuma expects to grant the underwriters a 30-day option to purchase additional shares of its common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Yuma intends to use the net proceeds from the offering to expand its horizontal San Andres play located in Yoakum County, Texas. Specifically, these funds will provide for additional leasehold acquisitions in the Permian Basin, the drilling of a San Andres horizontal well along with a Devonian salt water disposal well and other field infrastructure, and for general working capital purposes.
Northland Capital Markets and Euro Pacific Capital are acting as joint book-running managers for the proposed offering.
A registration statement on Form S-1, including a prospectus, relating to the proposed offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”), but has not yet become effective. The shares of common stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
The proposed offering will be made only by means of a prospectus. Copies of the prospectus may be obtained by contacting Northland Capital Markets at 45 South Seventh Street, Suite 2000, Minneapolis, Minnesota 55402, by calling toll free at (800) 851-2920, or by e-mailing email@example.com or Euro Pacific Capital at 1201 Dove Street, Suite 200, Newport Beach, California 92660, attention: Jayson Schroeder, by calling toll free at (800) 727-7922, or by e-mailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Yuma Energy, Inc.
Yuma Energy, Inc. is an independent Houston-based exploration and production company focused on acquiring, developing and exploring for conventional and unconventional oil and natural gas resources. Historically, Yuma’s operations have focused on onshore properties located in central and southern Louisiana and southeastern Texas where it has a long history of drilling, developing and producing both oil and natural gas assets. More recently, Yuma has begun acquiring acreage in Yoakum County, Texas, with plans to explore and develop oil and natural gas assets in the Permian Basin. Finally, Yuma has operated positions in Kern County, California, and non-operated positions in the East Texas Woodbine and the Bakken Shale in North Dakota. Yuma’s common stock is listed on the NYSE American under the trading symbol “YUMA.”