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For more information please contact:
Investment Banking
Alexander Montano
Managing Director
(949) 720-5770
amontano@roth.com
Otilia (Tilin) Chen
Director
(949) 720-5771
tchen@roth.com
Dustin F. Cabrera
Vice President
(949) 720-7136
dcabrera@roth.com
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com |
Transaction Information
Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company, has closed an underwritten public offering of 23,000,000 shares of its common stock, which includes an additional 3,000,000 shares pursuant to the full exercise of the over-allotment option granted to the underwriters. The shares were sold at the public offering price of $1.20 per share, resulting in the gross proceeds for Torchlight Energy of approximately $27.6 million.
Torchlight Energy intends to use the proceeds from the offering for general business purposes and to provide $5 million of additional bridge financing to Metamaterial Inc. in connection with the previously announced Arrangement Agreement between Torchlight Energy and Metamaterial Inc. pursuant to which Torchlight Energy and Metamaterial Inc will complete a business combination.
Roth Capital Partners acted as sole manager for the offering.
About Torchlight Energy Resources
Torchlight Energy Resources, Inc. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For more information, please visit
www.torchlightenergy.com. (Source: Company Press Release |
02.10.21)
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit
www.roth.com.
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Date of Announcement:
03.16.21
The material, information and facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC
("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any
companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or
estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be
reproduced in any form without the express written permission of ROTH. Copyright 2021. |
