BUZZ-Ring Energy sinks on deep-discounted $60 mln equity raise

Ring Energy, Inc.

Ring Energy, Inc.

REI

0.00

** Oil and natgas producer Ring Energy REI.A shares down 18.5% premarket to $1.45 after $60 mln follow-on priced

** The Woodlands, Texas-based firm late Tues sold ~44.4 mln shares at $1.35, a 24.2% discount to last sale

** REI intends to use net offering proceeds to repay debt under credit facility, remainder for general corp purposes

** Co has ~209.4 mln shares outstanding

** Mizuho, BofA and Raymond James joint bookrunners for offering

** Through Tues close, shares had risen ~32% over the past month, putting them up ~105% YTD


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