Reserve Oil and Gas Company
| Company Deal | $14,000,000 6 1/2% convertible subordinated debentures due December 15, 1992; 150,000 shares common stock |
|---|---|
| Transaction Type | Convertible Subordinated Debentures / Common Stock |
| Deal Description | Reserve Oil and Gas Company used the net proceeds from the sale of the debentures to pay outstanding balances on bank loans. Such loans were incurred to finance construction of the company's anhydrous ammonia plant and to obtain additional working capital. All shares of common stock were sold by the selling stockholders; the company received no portion of the proceeds from that transaction. |