everstead law is proud to have advised SGX-listed oil and gas group, REX International, on its successful PIPE exercise, comprising a placement of shares (including the allotment and issuance of new shares and the sale of treasury shares) and a warrants issue to Eagle Harbor Multi-Strategy Master Fund Limited and BB Special Opportunities Fund Ltd., both advised by Nursery Road Capital Management Ltd. 

REX is an established independent oil and gas company with a diversified portfolio of exploration and production assets across key energy markets, including Norway, Oman and the Middle East. The Group has built a strong track record in hydrocarbon exploration, supported by its proprietary liquid hydrocarbon indicator (LHI) technology, and continues to advance its interests in both producing fields and high-potential exploration concessions.

The exercise raised immediate gross proceeds of approximately S$7.6 million, with potential additional proceeds of up to approximately S$9.4 million upon full exercise of the warrants, and reflects continued institutional confidence in REX’s business and growth strategy.

For further information on this matter, please contact Jeremiah Huang or refer to the media’s widespread coverage of this transaction.