Syntroleum Prices 15.9M Share Offering at $1.58/Share

Syntroleum Corporation

today announced the pricing of its previously announced underwritten public offering of 15,900,000 shares of its common stock and warrants to purchase up to 7,950,000 shares of our common stock, offered at a price of $1.58 per share to the public. Each share of common stock is being sold together with 0.5 of a 5 year warrant to purchase one share of common stock at an exercise price of $2.36. The gross proceeds to Syntroleum from this offering are expected to be approximately $25.1 million from the sale of common stock and an additional $18.8 million if all the warrants are exercised, before deducting the underwriting discount and other estimated offering expenses payable by Syntroleum. All of the shares in the offering are to be sold by Syntroleum. The offering is expected to close on or about July 6, 2011, subject to customary closing conditions.