REI · Ring Energy, Inc.

Ring Energy, Inc. executed an underwriting agreement on May 12, 2026, with representatives from Mizuho Securities USA LLC, BofA Securities, Inc., and Raymond James & Associates, Inc., formalizing a previously announced public offering of 44,444,445 shares of its common stock under a shelf registration on Form S-3 effective since January 10, 2025. This significant equity raise provides substantial dilution potential, with the base offering representing a major increase in outstanding shares, and an over-allotment option allowing underwriters to purchase up to 6,666,666 more shares within 30 days. The agreement incorporates standard protections including representations, warranties, indemnification for Securities Act liabilities, and typical closing conditions, reducing execution risk for investors. Jones & Keller, P.C.'s legal opinion dated May 12, 2026, validates that the shares, when issued per the agreement, will be duly authorized, fully paid, and non-assessable under Nevada law. This filing signals imminent capital influx, likely for operational needs in the energy sector, though specific proceeds use is not detailed. Investors should monitor pricing, closing, and post-offering updates for dilution impact and capital deployment.