CALGARY, Alberta, November 3, 2022 (GLOBE NEWSWIRE) — Surge Energy Inc. (“Surge”, “SGY” or the “Company”) (TSX: SGY) announced that, in response to demand, National Bank Financial Inc. and a syndicate of underwriters led by Peters & Co. Limited have agreed to scale up a previously announced BiDeal Finance (“Offer”). Surge currently issues 7,568,000 shares of its common stock (“Common Stock”) at a price of $9.25 per common share, and will raise aggregate gross proceeds of $70,004,000 pursuant to the offering.
The underwriters have the option to purchase up to 15% of the common stock issued in the public offering at a price of $9.25 per common share to cover an exercisable allotment of shares in whole or in part through the public offering. can be obtained at any time up to 30 days after completion of offering. If the over-allotment option is fully exercised, the maximum total proceeds that can be raised under the offering is $80,504,600.
In all other respects, the terms of the offering and use of proceeds therefrom are as previously disclosed in the November 2, 2022 press release.
For more information on surge, please visit our website www.surgeenergy.ca.
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