Lafayette Energy, an oil and gas E&P operating in Louisiana, filed on Friday with the SEC to raise up to $7 million in an initial public offering.
The Denver, CO-based company plans to raise $7 million by offering 1.2 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Lafayette Energy would command a fully diluted market value of $76 million.
Concurrently, selling shareholders have registered 2.6 million shares, which may be offered and sold from time to time pursuant to the separate resale prospectus.
Lafayette Energy is an oil and gas exploration and production company with operations in south central Louisiana, in an area identified as the Imperial Parish Fields. To date, the company holds options to lease approximately 11,000 acres in Imperial Parish. It currently has no revenue-generating operations.
Lafayette Energy was founded in 2022 and plans to list on the Nasdaq under the symbol LEC. The company filed confidentially on November 23, 2022. Aegis Capital Corp. is the sole bookrunner on the deal.
