Corporate ActionMay 12, 2026, 04:13 PM
Ring Energy Commences $60M Public Offering of Common Stock
AI Summary
Ring Energy, Inc. announced the commencement of an underwritten public offering of $60,000,000 of its common stock. The company also granted the underwriters a 30-day option to purchase up to an additional $9,000,000 of shares. The net proceeds from the offering are intended to be used for the repayment of outstanding borrowings under its senior secured revolving credit facility, with any remaining proceeds allocated for general corporate purposes. Mizuho, BofA Securities, and Raymond James are serving as joint book-running managers for the offering.
Key Highlights
- Ring Energy commenced an underwritten public offering of $60,000,000 of common stock.
- Underwriters have a 30-day option to purchase up to an additional $9,000,000 of common stock.
- Net proceeds will be used for repayment of outstanding borrowings under its senior secured revolving credit facility.
- Any remaining proceeds will be used for general corporate purposes.
- Mizuho, BofA Securities, and Raymond James are acting as joint book-running managers.