Saratoga Resource Announces $20.1M Capital Infusion From Private Placement of Common Stock and Warrant Exercises
Saratoga Resources, Inc. (NYSE: SARA) today announced the closing of a $19.3 million private placement of common stock, before fees and expenses, to select institutional and accredited investors and, in a separate transaction, the receipt of $0.8 million of proceeds from the exercise of outstanding warrants.
The Company sold an aggregate of 3,089,360 shares of common stock in the private placement at $6.25 per share. C.K. Cooper & Company and Ladenburg Thalmann & Co., Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., acted as co-placement agents in the offering.
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