MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE MKT: REI) (the “Company”) announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering solely to cover over-allotments.
The Company intends to use the net proceeds from the offering to fund the previously announced acquisition of producing wells and leaseholds in Culberson and Reeves Counties, Texas and for general corporate purposes.
SunTrust Robinson Humphrey, Inc. is acting as sole bookrunner for the offering. Seaport Global Securities LLC and Euro Pacific Capital Inc. are acting as senior co-managers for the offering.
The offering will be made only by means of a prospectus supplement and accompanying base prospectus. A copy of the preliminary prospectus supplement and accompanying base prospectus for the offering will be filed with the Securities and Exchange Commission, or SEC, and may be obtained from the SEC’s website at www.sec.gov. In addition, a copy of the preliminary prospectus supplement and accompanying base prospectus for the offering may be obtained, when available, from SunTrust Robinson Humphrey, Inc., at STRH Prospectus Department, 3333 Peachtree Rd., NE, Atlanta, GA 30326, or may be requested by telephone at 404-926-5744 or by e-mail at STRH.Prospectus@SunTrust.com.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development and production company with current operations in Texas and Kansas.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that involve a wide variety of risks and uncertainties, including, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2014, its Form 10-Q for the quarter ended March 31, 2015 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.