Ring Energy sinks after starting $60 mln stock sale
12/05/2026 22:09
** Oil and natgas producer Ring Energy REI.A shares down 16.9% post-market to $1.48 after kicking off follow-on offering ** The Woodlands, Texas-based firm commences $60 mln stock offering ** Co intends to use net offering proceeds to repay debt under credit facility, remainder for general corp purposes ** Mizuho, BofA and Raymond James joint bookrunners ** REI shares rose 7.9% to finish at $1.78 on Tues. Stock has risen 32% over the past month, putting it up ~105% YTD ** Co has ~209.4 mln shares outstanding (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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