Spartan Delta Corp. Upsizes Previously Announced Equity Offering to $85 Million

Source: www.gulfoilandgas.com 1/14/2025, Location: North America

Spartan Delta Corp. (“Spartan” or the “Company”) (TSX:SDE) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters (the “Underwriters”) led by National Bank Financial Inc., as lead underwriter and sole bookrunner, to increase the size of its previously announced bought deal equity financing (the “Equity Offering”) from $50.0 million to $85.0 million.

The Underwriters have agreed to purchase for resale to the public, on a bought-deal basis, a total of 22,252,000 common shares (“Common Shares”) of Spartan at a price of $3.82 per Common Share for gross proceeds of approximately $85.0 million. The Underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Equity Offering at a price of $3.82 per Common Share to cover over-allotments and for market stabilization purposes exercisable in whole or in part at any time until 30 days after closing. In all other respects, the terms of the Equity Offering and use of proceeds therefrom will remain as previously disclosed in the January 13, 2025 press release.

The completion of the Equity Offering is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange. Closing of the Equity Offering is expected to occur on or around January 30, 2025.


Australia >>  2/11/2025 - Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in Australia, Indonesia and the United States, i...
Bermuda >>  2/11/2025 - Commercial update:

In January 2025, Himalaya Shipping Ltd. (“Himalaya,” or the “Company”) achieved average time charter equivalent (“TCE”) ...


Canada >>  2/11/2025 - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") today announces its financial and operating results for the third quarter of fiscal 2025 end...
Canada >>  2/11/2025 - Calfrac Well Services Ltd. (“Calfrac”) (TSX:CFW) intends to release its 2024 fourth quarter results before the market opens on Thursday, March 13, 202...

Canada >>  2/11/2025 - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) announces the closing of the previously announced private offering (the "O...
Germany >>  2/11/2025 - ADS-TEC Energy plc (NASDAQ: ADSE), a global leader in battery-buffered ultra-fast charging technology, today announced preliminary, unaudited full-yea...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.