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Ring Energy Announces Pricing of Public Offering of Common Stock

REI
  • Ring Energy, Inc. priced its underwritten public offering of 44,444,445 shares of common stock at $1.35 per share.
  • Gross proceeds from the offering are expected to be approximately $60 million, excluding the exercise of the underwriters' option.
  • Underwriters have a 30-day option to purchase up to an additional 6,666,666 shares of common stock.
  • The offering is expected to close on or about May 14, 2026, subject to customary closing conditions.
  • Ring intends to use net proceeds to repay outstanding borrowings under its senior secured revolving credit facility.
  • Any remaining proceeds will be used for general corporate purposes.
  • Mizuho, BofA Securities, & Raymond James are acting as joint book-running managers, while A.G.P./Alliance Global Partners, Roth Capital Partners, & Tuohy Brothers are co-managers.
  • The offering is made pursuant to an effective shelf registration statement filed with the SEC on Form S-3.
  • Ring Energy is an independent oil & natural gas exploration & production company focused on the Permian Basin of Texas.