Ring Energy to offer shares of common stock

Ring Energy Inc.

Ring Energy Inc. (NYSE MKT: REI) plans to offer 5 million shares of its common stock in an underwritten public offering. The underwriters have an option to purchase up to an additional 750,000 shares from the company.

The company intends to use the net proceeds from the offering to fund drilling and development of its properties, to pay for additional leases of oil and gas properties, to pay down borrowings under its credit facility, and to pay for acquisitions of oil and gas properties in and around existing properties.

SunTrust Robinson Humphrey Inc. is acting as sole book-running manager for this offering.

 

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