Evolution Petroleum slides after beginning stock offering for acquisition
18/08/2026 22:25
BUZZ-Evolution Petroleum slides after beginning stock offering for acquisition ** Independent energy co Evolution Petroleum's EPM.A shares down 11.2% at $3.40 in after hours trading as it seeks equity raise for acquisition
** Houston, Texas-based EPM commences stock offering; deal size not disclosed
** Co intends to use net offering proceeds to fund $16 mln purchase of oil and natural gas mineral and royalty interests located in the Permian Basin, and for general corporate purposes, including repayment of debt under its credit facility
** Roth Capital sole bookrunner
** With ~35.9 mln shares outstanding, co has nearly $140 mln market cap
** Stock closed up 0.3% at $3.83 on Tues, up 8% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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