HyperDynamics Prices 25M Share Offering At $5/Share, To Close About March 30th (HDY)

Hyperdynamics Corporation HDY today announced that its public offering of 25,000,000 shares of its common stock has priced at $5.00 per share for gross proceeds of approximately $125,000,000. The Company has granted the underwriter a 45 day option to purchase up to an additional 3,750,000 shares of common stock to cover over-allotments, if any. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. RODM has acted as sole book running manager for the offering. The Company intends to use the proceeds of the offering for general corporate purposes and working capital, including an exploratory well drilling program offshore Guinea beginning in 2011. The Company expects to close the transaction, subject to customary conditions, on or about March 30, 2011.