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Spartan Delta ( (TSE:SDE) ) has provided an update.
Spartan Delta Corp. has announced an increase in its equity offering from $50 million to $85 million due to high demand, with National Bank Financial Inc. leading the underwriting. The offering will involve the sale of 22,252,000 common shares at $3.82 each, with an option for underwriters to purchase an additional 15% of the shares. The completion of this offering, subject to regulatory approvals, is expected by the end of January 2025. This move indicates strong market interest and positions Spartan Delta to enhance its financial standing and pursue further growth in its core areas of operation.
More about Spartan Delta
Spartan Delta Corp. is a company engaged in the oil and gas industry, focusing on responsible exploration and development. The company operates in the Deep Basin and Duvernay regions, aiming to generate sustainable free cash flow through high-quality production and development opportunities. Spartan Delta is committed to executing organic drilling programs and optimizing operations while being environmentally and socially responsible.
YTD Price Performance: 14.46%
Average Trading Volume: 32,643
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $487.9M
See more insights into SDE stock on TipRanks’ Stock Analysis page.
