MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE MKT: REI) (the “Company”) announced today that
it intends to offer 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. The offering is subject to market conditions, and there can be
no assurance as to whether or when the offering may be completed, or as
to the actual size or terms of the offering.
The Company intends to use the net proceeds from the offering to fund a
pilot horizontal drilling program, repay debt under its revolving credit
facility and for general corporate purposes.
SunTrust Robinson Humphrey, Inc. and Seaport Global Securities LLC are
acting as joint book-running managers in the offering.
The offering will be made only by means of a prospectus supplement and
accompanying base prospectus to a shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission (the “SEC”). A copy of the preliminary prospectus
supplement and accompanying base prospectus for the offering will be
filed with the SEC and may be obtained from the SEC’s website at http://www.sec.gov.
In addition, copies may be obtained, when available, by contacting (i)
SunTrust Robinson Humphrey, 3333 Peachtree Road NE, 9th
Floor, Atlanta, GA 30326, Attention: Prospectus Department; email: strh.prospectus@suntrust.com;
telephone: 404-926-5744; or fax: 404-926-5464 or (ii) Seaport Global
Securities LLC, 360 Madison Avenue, 21st Floor, New York, NY
10017; or telephone: 646-264-5601.
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.
www.ringenergy.com
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,
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.
