T. Rowe Price Provides Equity Capital to Contango Oil & Gas

Updated 1 year 9 months ago

Contango Oil & Gas announced the execution of agreement to sell 19,000,000 shares of common stock in a private placement. The company also entered into agreements with John Goff, Wilkie Colyer, and W. Farley Dakan to sell 2,340,000 shares of Series C preferred stock which will convert into common stock. Gross proceeds from the equity capital raise of $53.35 million will be applied to the joint development agreement with Juneau Oil & Gas which was announced the same day.