MINNEAPOLIS–(BUSINESS WIRE)–Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern” or the “Company”) today announced the pricing of a public offering of 58,666,667 shares of its common stock, par value $0.001 per share (“Common Stock”), at $1.50 per share (before underwriting discounts and commissions). The offering is expected to close on or about April 10, 2018, subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 8,800,000 shares of Common Stock from the Company.
Stifel, Nicolaus & Company, Incorporated acted as the sole book-running manager for the offering. Capital One Securities, Imperial Capital, Northland Capital Markets, Petrie Partners Securities and Seaport Global Securities acted as co-managers for the offering. Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.
The Company intends to use the net proceeds from this offering to continue to pursue acquisition opportunities, to fund its drilling program and for general corporate purposes (other than the repayment of debt).
The offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus supplement and the accompanying prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”). Copies of the prospectus supplement and the accompanying prospectus related to this offering may be obtained by sending a request to: Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, 1 South Street, 15th Floor, Baltimore, MD 21202, or by telephone at (855) 300-7136, or by email at firstname.lastname@example.org.
These documents may also be obtained for free when they are available by visiting EDGAR on the SEC’s website at http://www.sec.gov.
This news release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is an exploration and production company with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.