Lilis Energy Raises $7.5M PIPE from Insiders at 15% Discount

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Lilis Energy, Inc. (LLEX) announced that it has raised $7,500,000 in a Units (Common Stock + Warrants) transaction. The common stock was sold at $2.00 per share, an approximate 15% discount to the market price ($2.35) of LLEX at deal announcement. A series of 3,750,000 42-Month Warrants with an exercise price of $2.50 per share (6.39% premium) was issued to the investors in this transaction. T.R. Winston & Company, Inc. acted as the exclusive agent on the transaction. The investors included members of the Company's Board of Directors and certain of its officers. The transaction closed on January 22, 2014.

via PlacementTracker.

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