Royale Energy Announces Plans to Accelerate Growth Transaction to Simplify Capital Structure
ROYALE ENERGY INC (ROYL)
US:NASDAQ Investor Relations:
royl.com/investor
Company Research
Source: GlobeNewswire
SAN DIEGO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Royale Energy Inc. ("Royale" or the "Company"), a Delaware-based corporation, is pleased to announce the successful completion of a series of strategic financial transactions aimed at simplifying its capital structure and more closely aligning the interests of its diverse stakeholders. This series of transactions better positions Royale to pursue future growth opportunities and continue on the path toward relisting on a major exchange. As part of this comprehensive effort, Royale Energy Inc. has executed key agreements that include the issuance of common stock, stock options, and Series 2024 Senior Unsecured Promissory Notes in exchange for all of the outstanding Series B Preferred Stock. As a result, Royale now has one class of equity outstanding, its common stock. These transactions were conducted with former holders of the Company’s Series B Preferred Stock and other long-term liability holders, effectively resolving over $24 million
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Sec Filings
- 12/12/24 - Form 8-K
- 11/26/24 - Form D
- 11/14/24 - Form 10-Q
- ROYL's page on the SEC website