Talos Energy Inc. (NYSE: TALO) stock dropped -16.75% to $8.75 in the pre-market session after it recently confirmed that it has priced its subscribed public offering of the Company’s 8,250,000 common stock shares for anticipated net revenue of $73,425,000 before relevant fees and expenses.
Also, the Company issued an option to the underwriter to buy up to an additional 1,237,500 shares of common stock.
The Organization plans to use the Sale’s net proceeds to support its general funding plan and repay part of its remaining borrowings under its reserve-based loan facility and general corporate purposes. The Offering is scheduled to close on 11 December 2020.
The primary underwriter for the Deal is BMO Capital Markets Corp. The securities can from time – to – time, be offered for sale by the underwriter in one or more transactions on the New York Stock Exchange, on the over-the-counter market, through negotiated transactions, or either at prevailing market rates at the moment of sale, at prevailing market prices or negotiated prices.