- Tamarack Valley Energy (TVE) has announced a bought deal offering for gross proceeds of approximately $125.0 million
- A syndicate of underwriters led by RBC Capital Markets and National Bank Financial Inc. has agreed to purchase approximately 33 million common shares for $3.75 per share
- The net proceeds from the offering will be used to partially fund the acquisition of Deltastream Energy Corporation
- Tamarack is an oil and gas exploration and production company with an extensive inventory of low-risk oil development drilling locations in Alberta
- Tamarack Valley Energy Ltd. (TVE) opened trading at C$3.85
Tamarack Valley Energy (TVE) has announced a bought deal offering for gross proceeds of approximately $125.0 million.
The company has signed an agreement with a syndicate of underwriters led by RBC Capital Markets and National Bank Financial Inc. to purchase, for resale to the public, approximately 33 million common shares for $3.75 per share.
The underwriters have an over-allotment option.
The net proceeds from the offering will be used to partially fund the acquisition of Deltastream Energy Corporation. If the acquisition is not completed, Tamarack may use the net proceeds to reduce indebtedness, fund future acquisitions and for general corporate purposes.
Tamarack is an oil and gas exploration and production company. The company has an extensive inventory of low-risk oil development drilling locations focused primarily on Charlie Lake, Clearwater, and EOR plays in Alberta.
Tamarack Valley Energy Ltd. (TVE) opened trading at C$3.85.