Gross proceeds to the Company are expected to be approximately
In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of Series B Preferred Stock to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering primarily to fund seismic and new drilling costs near its Tuchola prospect, which is located in the Edge license in north central
The Company has filed an application to list the shares of Series B Preferred Stock on the NASDAQ Global Select Market under the symbol "FXENP." If approved by NASDAQ, trading of the Series B Preferred Stock on the NASDAQ is expected to begin within 30 days after the date of initial issuance of the Series B Preferred Stock.
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