Athabasca Oil Corp.
Description
Announced private placement offering of 350,000 units. Each unit will consist of $1,000 principal amount of senior secured second lien notes due 2026 which bear interest at 9.75% per annum, and one five‐year warrant to purchase 227 common shares at an exercise price of $0.9441 per warrant share. Proceeds will be used along with cash on hand to redeem its $450 million aggregate principal amount of 9.875% senior secured second lien notes due 2022.