KLRE - Now Rosehill Resources Inc.
Warrants - One wt plus 11.50 - Call 21
KLR Energy Acquisition Corp. and Tema Oil and Gas Company
to Combine to form Rosehill Resources, a Pure-Play Delaware Basin Company
Announced Deal 12/20/16
In connection with the business combination, KLR Energy also announced that it has entered into Subscription Agreements with certain institutional investors to issue and sell in private placements a total of 75,000 shares of Series A Preferred Stock and 5,000,000 warrants (each entitling the holder topurchase one share of Class A Common Stock or $11.50) for gross proceeds of $75 million.
Tema’s parent, Rosemore, Inc. (“Rosemore”), and KLRE’s sponsor, KLR Energy Sponsor, LLC (“KLR Sponsor”), have agreed to backstop redemptions by the public stockholders of KLRE in excess of 30% of the outstanding shares of Class A Common Stock by purchasing shares of Class A Common Stock or Series A Preferred Stock in an amount up to $20 million