PetroShare, an oil and gas E&P developing operations in Colorado's Denver-Julesburg Basin, announced terms for its IPO on the NYSE MKT on Monday.
The Centennial, CO-based company plans to raise $28 million by offering 6.0 million shares at a price of $4.63, the as-converted last share price of its common stock listed on the OTCQB. At that price, PetroShare would command a fully diluted market value of $74 million.
The pre-revenue company was founded in 2012 and plans to list on the NYSE MKT under the symbol PRHR. Roth Capital is the sole bookrunner on the deal. It is expected to price during the week of November 7, 2016.
