PEDEVCO (NYSE:PED), an energy company engaged in the acquisition and development of strategic, high-growth energy projects in the U.S., has closed its previously announced registered direct offering with a certain institutional investor, pursuant to which the company sold approximately $7.0 million worth of common stock. PEDEVCO secured net proceeds of approximately $6.4 million from the offering, with approximately 4.5 million shares of common stock each sold at a price of $1.57. The company intends to use the majority of the net proceeds to fund its 2021 Permian Basin and D-J Basin asset development programs and potential acquisition opportunities, as well as for general corporate purposes and working capital. Roth Capital Partners acted as joint-placement agent for the offering.
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About PEDEVCO Corp
PEDEVCO is a publicly traded energy company engaged in the acquisition and development of strategic, high-growth energy projects in the United States. The company’s principal assets are its San Andres Asset located in the Northwest Shelf of the Permian Basin in eastern New Mexico, and its D-J Basin Asset located in the D-J Basin in Weld and Morgan Counties, Colorado. PEDEVCO is headquartered in Houston, Texas. For more information about the company, please visit www.PEDEVCO.com.
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