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PetroShale to raise up to $58.5MM for Bakken purchase
PetroShale Inc. announced plans to raise up to $58.5 million through two private placements to fund its acquisition of additional North Dakota acreage. The first issue, which consists of the sale of 21.6 million subscription receipts for $1.85 each, would raise up to $40 million. The underwriters, led by Haywood Securities, have a 30-day underwriters overallotment option to issue up to 3.2 million subscription receipts to raise another $6.0 million. Concurrently, the company is......
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