That spike to 13 lately on news that TRGL is in talks with investors,was once again an opportunity to Short the stock.I didn't Short.
Price offering at 8.5.
Toreador Announces Pricing of Public Offering of Common Stock
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Companies:
o Toreador Resources Corp.
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Press Release Source: Toreador Resources Corporation On Tuesday February 9, 2010, 9:00 am
PARIS--(BUSINESS WIRE)--Toreador Resources Corporation (NASDAQ: TRGL - News) announced today that it has priced an underwritten public offering of 3 million shares of common stock at a public offering price of $8.50 per share. The offering is expected to close on February 12, 2010, subject to customary closing conditions.
The net proceeds to Toreador from the offering will be approximately $23.5 million, after deducting underwriting discounts, commissions and estimated offering expenses. Toreador intends to use the net proceeds, together with cash on hand, to satisfy payment obligations arising from the holders’ exercise, if any, of their right on October 1, 2010 to require the Company to repurchase its 5.00% Convertible Senior Notes due 2025 and for general corporate purposes, which may include working capital, capital expenditures and acquisitions.
RBC Capital Markets and Thomas Weisel Partners LLC are acting as joint book-running managers for the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares to cover over-allotments, if any.
This offering is being made only by means of a prospectus supplement and related prospectus. Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained by contacting RBC Capital Markets Corporation, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate, (212) 428-6670 or Thomas Weisel Partners LLC, One Montgomery Street, San Francisco, CA 94104, Attention: Equity Syndicate, (415) 364-2720.
The shares are being offered pursuant to an effective shelf registration statement. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
