Northern Oil and Gas has closed on its previously-announced registered direct offering of 2,250,000 shares of its common stock at $6.00 per share, resulting in gross proceeds of approximately $13.5 million.
C.K. Cooper & Company acted as lead placement agent on the transaction.
Northern Oil expects to use the net proceeds from the offering to repay a portion of the current borrowings under its revolving credit facility, primarily including borrowings incurred in connection with its recently announced acquisition of additional Bakken assets.
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