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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 |
Transaction Information
Tengasco, Inc. (NYSE:TGC) has merged with Riley Exploration - Permian, LLC. The merger was previously approved by Tengasco stockholders at the special meeting held on February 25, 2021. In connection with the merger, Tengasco has changed its name to Riley Exploration Permian, Inc.
On Monday, March 1st, the combined company began trading under the symbol REPX on the NYSE American. Concurrently Tengasco conducted a 1-for-12 reverse stock split, resulting in a reduction of outstanding shares of the combined company to approximately 17.8 million shares of common stock (after giving effect to both the reverse stock split and the merger).
Bobby D. Riley, Riley Permian's Chief Executive Officer, commented, "We are happy to have completed the merger of these two companies, which positions the stockholders of the Combined Company to benefit from the continued growth and development of the San Andres within the Northwest Shelf of the Permian Basin and future areas of interest. This merger will give the Combined Company financial strength and flexibility, highlighted by low leverage and basin relative low-cost development, as well as a business plan capable of delivering sustainable free cash flow to return significant capital to stockholders."
About Riley Exploration Permian, Inc.
Riley Exploration Permian, Inc. is an independent oil and natural gas company focused on steadily growing its reserves, production and cash flow through the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids, or NGLs, in the Permian Basin. For more information, please visit
www.rileypermian.com. (Source: Company Press Release |
02.26.21)
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:
03.31.21
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. |
