Australia's Bounty Oil & Gas falls on discounted placement
Shares of Bounty Oil & Gas fell as much as 21.1% to A$0.015 on Tuesday, their lowest since July 3. The oil and gas explorer will raise A$3.5 million ($2.49 million) through a placement at an issue price of A$0.012 per share, representing a 36.8% discount. The company also entered into a binding share sale agreement to acquire all of the issued units in PetroQuest Liberia Deep Water for A$1.5 million in cash.
8% discount, The stock logged its largest intraday percentage loss since June 15. 5 million in cash, among other consideration. 6% year to date. 4073 Australian dollars)