Battalion Oil Corporation entered into a Sales Agreement with Roth Capital Partners to sell up to $150 million of common stock through an at-the-market offering.
Key takeaways
The Company may sell up to $150,000,000 of common stock through Roth Capital Partners, acting as agent.
The offering will be conducted as an "at the market" (ATM) offering under Rule 415(a)(4).
The Agent is entitled to a commission rate of up to 3.00% of the gross proceeds from sales.
The Company agreed to reimburse the Agent for specific out-of-pocket expenses up to $50,000 initially and $8,000 quarterly.
The shares are issued under an effective S-3 shelf registration statement (File No. 333-295204).