PEDEVCO (NYSE American: PED) merged with oil-weighted portfolio companies controlled by “Juniper Capital Advisors” in a transaction that adds substantial DJ and Powder River Basin assets, issues 10.65 million Series A Convertible Preferred Shares, refinances existing obligations, and includes a concurrent $35 million private placement. Upon conversion, Juniper and affiliates will own about 53 percent of the combined company, which is expected to hold roughly $87 million in debt and $10 million in cash as it advances a consolidation-focused Rockies growth strategy. Roth Capital Partners served as financial advisor to PEDEVCO.
To view the full press release, visit https://ibn.fm/7HelB
About PEDEVCO Corp.
PEDEVCO is a publicly-traded energy company engaged in the acquisition and development of strategic, high growth energy projects in the United States. The Company’s principal assets are its D-J Basin Asset located in the D-J Basin in Weld and Morgan Counties, Colorado and Southeastern Wyoming, and its San Andres Asset located in the Northwest Shelf of the Permian Basin in eastern New Mexico. PEDEVCO is headquartered in Houston, Texas.
More information about PEDEVCO can be found at https://www.pedevco.com/
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