Lafayette Energy, an oil and gas E&P operating in Utah and Louisiana, raised the proposed deal size for its upcoming IPO on Thursday.
The Woods Cross, UT-based company once again plans to raise $5 million by offering 1.2 million shares at a price range of $4.00 to $5.00. The company had originally filed with those terms in 2023, before it lowered the range to $3.50 to $4.50 in April. At the midpoint of the revised range, Lafayette Energy will raise 13% more in proceeds than previously anticipated.
Lafayette Energy is an oil and gas exploration and production company with operations in eastern Utah and south central Louisiana. The company has no revenue-generating operations.
Lafayette Energy was founded in 2022 and plans to list on the NYSE American under the symbol LEC. Spartan Capital Securities is the sole bookrunner on the deal.
