Epic Gas Completes Private Placement Of Shares For US$32.6 Million

Published: Mar 16 2017
Deal Summary

Epic Gas Ltd., an offshore services company, completed the private placement of 18,438,035 shares, at a price of NOK15 (US$1.74) per share, for gross proceeds NOK276.57 million (MM) (US$32.6 MM).

DNB Markets, Inc. acted as placement agent to the company for the placement. The company intends to use the proceeds from the placement for working capital and general corporate purposes.

Deal history

Completed: On March 23, 2017, Epic Gas completed the private placement of 18,438,035 shares, at a price of NOK15 (US$1.74) per share, for gross proceeds NOK276.57 MM (US$32.6 MM).

Announced: On March 16, 2017, Epic Gas agreed to issue a minimum of 17,200,800 shares and maximum of 22,934,400 shares, at a price of NOK15 (US$1.74) per share, for gross proceeds between NOK258 MM (US$30 MM) and NOK344 MM (US$40 MM), in a private placement.

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