Hyperdynamics Corp. (HDY) to Sell Stock
Hyperdynamics Corp. recently said that it signed an agreement to issue 7.22 million shares of common stock at a price of $0.90 to several different institutional investors. The company would realize gross proceeds of $6.5 million before expenses. Hyperdynamics Corporation also issued warrants to these investors that entitle the holders to buy an additional 3.25 million shares at a price of $0.98. The warrants must be exercised over a four year time frame that begins six months after the transaction closes. Hyperdynamics Corporation is an oil and gas exploration and production company with properties in West Africa. Hyperdynamics Corporation entered…