Why Torchlight Energy Shares Are Moving Today

Torchlight Energy Resources Inc TRCH shares are trading lower by 15.5% at $5.06 after the company filed to sell up to $100 million shares worth of common stock.

Shares of Torchlight Energy saw strength this week when late Monday the company declared a special dividend and said its combination with Metamaterial is expected to close before the end of June.

Torchlight Energy acquires, explores, exploits and develops oil and natural gas properties in the United States.

Torchlight Energy is primarily focused on the acquisition of early-stage projects, the development and delineation of the projects and then the monetization of those assets once these activities are completed.