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The Wayzata-based oil company has reached a final agreement to sell 6.5 million common shares at USD9.12 (EUR6.17) apiece, hoping to raise USD56.2m in net proceeds.
Atlanta-based broker FIG Partners acted as co-placement agent for the offering, which is expected to be completed on November 4, pending customary closing terms.
The proceeds will be used for working capital, revolver repayment and possibly takeover moves.
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