$ANFC .049 Solid Due Diligence, No Brainer
Black Ridge Oil & Gas is a growth-oriented oil and gas asset manager. The Company, as sponsor of Black Ridge Acquisition Corporation (NASDAQ: BRACU), is aggressively seeking to acquire oil and gas assets throughout the major U.S. basins.
Black Ridge Acquisition Corporation is a $138 million special purpose acquisition company (SPAC) focused on identifying a growth oriented merger candidate.
So here's the SS based upon the $5.182 million raise.
500,000,000 A/S with 479,479,900 O/S as per last Q.
431,819,910 Restricted Shares Purchased by Insiders/Institutions, leaving a 47,659,090 Share Float. Add in Debt free, No Notes, No Dilution and I say "How sweet is that!!"
From 8-k, $5.182m in Commons Purchased >> Under the Rights Offering the Company’s current shareholders exercised rights to purchase 199,811,421 shares of stock for a total of $2.398 million. Under the Backstop Agreement, the Backstop Purchasers purchased 232,008,489 shares of stock for a total of $2.784 million. Combined, the Company realized total gross proceeds of approximately $5.182 million, reaching its expected goal.
$ANFC INVESTORS PRESENTATION http://ir.stockpr.com/blackridgeoil/presentations https://seekingalpha.com/filing/3707222 $138,000,000 Raised for BRAC IPO and Up list to NASDAQ, $ANFC owns 22% http://www.cbs8.com/story/36629229/black-ridge-oil-gas-inc-announces-closing-of-spac-over-allotment-related-to-initial-public-offering Huge Names in the Mix, they all Purchased $5.182m in Commons.
The individual backstop purchasers are Lyle Berman, Alice Ann Corporation, William H. Baxter Trustee FBO William H. Baxter Revocable Trust u/a dtd 7/3/96, Robert G. Allison, Frances A. Gonyea, Dorothy J. Hoel, Richard A. Hoel, Neil I. Sell, Farnam Street Special Opportunities Fund I, Benjamin Oehler, Morris & Arlene Goldfarb JTWROS, Sheldon T Fleck ROTH IRA, JL Holdings, Ken DeCubellis, Art Petrie, and Tamela G. Schroll.