Hyperdynamics Corporation today announced that it intends, subject to market and other conditions, to offer its shares of common stock pursuant to a shelf registration statement under the Securities Act of 1933, as amended.
The Company also intends to grant the underwriter a 45 day option to purchase up to an additional 15% of the shares sold in the public offering to cover over-allotments, if any. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. , is acting as sole book-running manager for the offering.
The Company intends to use the proceeds of the offering for general corporate purposes and working capital, including an exploratory well drilling program offshore Guinea beginning in 2011.
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Source: Hyperdynamics , March 25, 2011;