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News Breaks | | | | February 4, 2013 | | 07:13 EDT |  | EOX | Emerald Oil agrees to sell $50M of perpetual preferred stock to White Deer
Emerald Oil announced it has signed a definitive agreement with White Deer Energy, an energy private equity firm based in Houston and New York, to issue and sell $50M of Perpetual Preferred Stock to White Deer. The Preferred Investment is structured as follows: 10% Perpetual Preferred Stock with detachable warrants, exercisable for 5,114,633 shares of Emerald common stock, attached to voting rights for approximately 19.9%, or approximately 16.6% pro forma following the Preferred Investment, of Emerald's outstanding common stock. The warrants are exercisable at $5.77 per share. Upon closing the investment, Thomas Edelman, a Managing Partner at White Deer, will be added to Emerald's board of directors, which will expand from 7 to 8 members. White Deer has agreed not to enter into any short sales or hedge transactions relating to the Emerald common stock and closing and funding is scheduled to occur on February 19. | |
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News For EOX From The Last 14 Days Check below for free stories on EOX the last two weeks. |
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| May 17, 2013 | | 08:37 EDT |  | EOX | Emerald Oil 12M share Secondary priced at $6.10
 Subscribe for More Information | | | May 13, 2013 | | 08:11 EDT | | EOX | Emerald Oil sells common stock to White Deer private equity firm
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