secwatch / observer
8-K filed April 12, 2023, 7:59 PM ET ticker REI CIK 0001384195
other material confidence high sentiment neutral materiality 0.60

Ring Energy reduces warrant exercise price to $0.62, receives $9.0M from exercise of 14.5M warrants

RING ENERGY, INC.

item 1.01item 3.03item 7.01item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RING ENERGY, INC. amended Warrant Amendment and Exercise Agreements with certain holders of the warrants valued at $8,997,543.

Action
amendment
Counterparty
certain holders of the warrants
Value
$8,997,543
Exact text from the filing
On April 11 and 12, 2023, the Company and certain holders of the warrants (the “Participating Holders”) entered into a form of Warrant Amendment and Exercise Agreements (the “Exercise Agreement”) pursuant to which the Company agreed to reduce the exercise price of an aggregate of 14,512,166 warrants held by such Participating Holders from $0.80 to $0.62 per share (the “Reduced Exercise Price”) in consideration for the exercise of the warrants held by such Participating Holder in full at the Reduced Exercise Price in cash. The Company received aggregate gross proceeds of $8,997,543 from the exercise of the warrants by the Participating Holders pursuant to the Exercise Agreement.
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RING ENERGY, INC. filing history →

Source: SEC EDGAR
accession 0001628280-23-011425
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