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Halcón Resources Corporation
HK today announced that it has entered into definitive agreements
with institutional investors to sell, in a private offering, approximately
4,444 shares of automatically convertible preferred stock, each share of which
will be convertible into 10,000 shares of its common stock, for anticipated
gross proceeds of approximately $400 million, or $9.00 per common share. The
Company expects the private offering to close on March 5, 2012, subject to
certain closing conditions. The Company intends to use the proceeds for
general corporate purposes, including leasing or acquiring acreage, seismic
data, drilling and completion, and the acquisition of assets or existing
operating companies.
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