Northern Oil And Gas Inc (NYSE:NOG) shares are trading lower in Wednesday’s after-hours session after the company announced a proposed public offering of common stock.
- Northern Oil & Gas stock is showing notable weakness. What’s weighing on NOG shares?
Northern Oil and Gas Proposes Offering
After the market close on Wednesday, Northern Oil and Gas announced it commenced an underwritten public offering of $200 million of its common stock. The company plans to grant the underwriters a 30-day window to buy up to an additional $30 million of common stock.
Northern Oil and Gas plans to use the net proceeds for general corporate purposes, including the repayment of some outstanding borrowings under its revolving credit facility.
Northern Oil and Gas had approximately $14.3 million in cash and cash equivalents and approximately $2.40 billion in total long-term debt as of Dec. 31, 2025.
NOG Shares Slide After The Close
NOG Price Action: Northern Oil and Gas shares were down 2.03% in after hours, trading at $28 at the time of publication Wednesday, according to Benzinga Pro.
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