BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC) Files An 8-K Other Events

BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC) Files An 8-K Other Events
Item 8.01 Other Events

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On October 18, 2017, Black Ridge Oil & Gas, Inc. (the “Company”) issued a press release in which it announced that Black Ridge Acquisition Corporation, a special purpose acquisition corporation (NASDAQ:BRACU) (“BRAC”) sponsored by the Company, has completed a sale of units to the full exercise of the underwriters’ over-allotment option granted in connection with BRAC’s initial public offering (IPO). The Company used a portion of the proceeds of its rights offering completed on September 26, 2017 to purchase 45,000 units at $10 per unit to fulfill its sponsorship commitment with respect to the over-allotment, bringing the total units purchased by the Company in connection with BRAC’s IPO and exercise of the over-allotment to 445,000 units at $10.00 per unit. The Company previously purchased 3,450,000 shares of BRAC’s common stock for $25,000. The underwriters’ full exercise of the over-allotment option ensured that the 450,000 shares previously purchased but subject to forfeiture would not be forfeited by the Company.

With the full exercise of the underwriters’ over-allotment option, BRAC sold a total 13,800,000 units at $10.00 per unit generating gross proceeds of $138,000,000 in connection with its IPO. The units are listed on the NASDAQ Capital Market (“NASDAQ”) and trade under the symbol “BRACU.” Each unit consists of one share of BRAC’s common stock, one warrant to purchase one share of BRAC’s common stock at a price of $11.50 per share, and one right to receive one-tenth of one share of BRAC’s common stock only upon the consummation of an initial business combination by BRAC. Once the securities comprising the units begin separate trading, the common stock, warrants and rights are expected to be listed on NASDAQ under the symbols “BRAC,” “BRACW,” and “BRACR,” respectively.

EarlyBirdCapital, Inc. acted as sole book-running manager and Chardan and I-Bankers Securities acted as co-managers of the offering.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

The exhibits furnished with this report are listed in the Exhibit Index which immediately follows the hereto, which Exhibit Index is incorporated herein by reference.


Black Ridge Oil & Gas, Inc. Exhibit
EX-99.1 2 blackridge_8k-ex9901.htm PRESS RELEASE Exhibit 99.1   Black Ridge Oil & Gas,…
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About BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC)

Black Ridge Oil & Gas, Inc. is an oil and natural gas exploration and production company. The Company’s properties are located in North Dakota and Montana. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas properties, primarily in the Bakken and Three Forks trends in North Dakota and Montana. The Company is engaged in crude oil and natural gas exploration and production by participating on a pro-rata basis with operators in wells drilled and completed in spacing units that include its acreage under lease. It has proven oil and gas reserves of approximately 2.3 million barrels of oil equivalents, owns interest in over 349 gross (10.95 net) producing oil and gas wells, and controls rights to mineral leases covering approximately 8,100 net acres for prospective drilling to the Bakken and/or Three Forks formations. The Company controls approximately 7,400 net acres in the Williston Basin.

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