Attached files
| file | filename |
|---|---|
| 8-K - HYPERDYNAMICS CORP | v181586_8k.htm |
| EX-4.1 - HYPERDYNAMICS CORP | v181586_ex4-1.htm |
| EX-5.1 - HYPERDYNAMICS CORP | v181586_ex5-1.htm |
| EX-1.1 - HYPERDYNAMICS CORP | v181586_ex1-1.htm |
| EX-10.1 - HYPERDYNAMICS CORP | v181586_ex10-1.htm |
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NEWS
RELEASE
|
|
FOR
IMMEDIATE RELEASE
|
Contacts: |
Dennard Rupp Gray
& Easterly, LLC
Ken
Dennard, Managing Partner
Jack
Lascar, Partner
(713) 529-6600 Anne Pearson, Sr. Vice President (210) 408-6321 |
Hyperdynamics
to Raise $10.5 Million in Registered Direct Offering
HOUSTON, April 20, 2010 –
Hyperdynamics Corporation (NYSE Amex: HDY) announced today that the Company has
entered into a definitive agreement with institutional investors in a registered
direct offering of its common stock with gross proceeds of approximately $10.5
million. Hyperdynamics Corporation plans to use the net proceeds from
the offering to fund a portion of their 3D seismic data acquisition and
processing, certain short term debt and payables, working capital and general
corporate purposes. The shares and warrants are being offered by
Hyperdynamics pursuant to a shelf registration statement on Form S-3 previously
declared effective by the Securities and Exchange Commission.
In the
offering, the Company will issue 8,076,925 shares of its common stock at a price
per share of $1.30. The investors will also receive common stock
purchase warrants to purchase up to 2,826,923 shares of common stock with an
exercise price of $1.58 per share. Warrants to purchase 807,692
shares of common stock will have a one year term commencing 6 months from the
closing date of the transaction and warrants to purchase 2,019,231 shares of
common stock will have a five year term commencing 6 months from the closing
date of the transaction.
The
closing of the offering is expected to take place subject to the satisfaction of
customary closing conditions.
Rodman
& Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc.
(NASDAQ: RODM), acted as the exclusive placement agent for this
transaction.
This
announcement shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any offer or sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. Any offer will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective registration
statement. Copies of the prospectus supplement together with the accompanying
prospectus can be obtained at the Securities and Exchange Commission’s website
at http://www.sec.gov or
from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, 20th Floor, New
York, NY 10020.
About
Hyperdynamics
Hyperdynamics
is an emerging independent oil and gas exploration and production company that
is exploring for oil and gas offshore the Republic of Guinea in West Africa. To
find out more, visit our website at www.hyperdynamics.com.
Forward
Looking Statements
This news
release and the Company's website referenced in this news release contain
forward looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, regarding Hyperdynamics Corporation's future plans and expected
performance that are based on assumptions the Company believes to be reasonable.
Statements preceded by, followed by or that otherwise include the words
"believes", "expects", "anticipates", "intends", "projects", "estimates",
"plans", "may increase", "may result", "will result", "may fluctuate" and
similar expressions or future or conditional verbs such as "will", "should",
"would", "may" and "could" are generally forward-looking in nature and not
historical facts. A number of risks and uncertainties could cause actual results
to differ materially from these statements, including without limitation,
funding and exploration efforts, fluctuations in oil and gas prices and other
risk factors described from time to time in the Company's reports filed with the
SEC, including the Company's Annual Report on Form 10-K for the fiscal year
ended June 30, 2009. The Company undertakes no obligation to publicly update
these forward looking statements to reflect events or circumstances that occur
after the issuance of this news release or to reflect any change in the
Company's expectations with respect to these forward looking
statements.
HDY-IR
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