UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 11, 2011
SYNERGY RESOURCES CORPORATION
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(Exact name of registrant as specified in its charter)
Colorado None 20-2835920
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
20203 Highway 60
Platteville, Colorado 80651
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (970) 737-1073
N/A
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(Former name or former address if changed since last report)
Check appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below)
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-14(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 3.02. Unregistered Sales of Equity Securities
On January 11, 2011, Synergy Resources Corporation (the "Company")
completed its $18.0 million private placement of 9,000,000 shares of its common
stock. The shares were sold for $2.00 per share in two closings on December 23,
2010 and January 11, 2011. After payment of commissions and expenses, the
Company received net proceeds of approximately $16.7 million. The proceeds from
the sale of the common stock will be used for acquisitions, the Company's 2011
drilling program and working capital.
Oppenheimer & Co. acted as lead placement agent for the offering, with GVC
Capital LLC acting as co-placement agent.
The shares of the Company's common stock were sold to certain institutions
and accredited investors. The Company relied upon the exemption provided by Rule
506 of the Securities and Exchange Commission in connection with the sale of the
shares.
The shares of common stock which were sold were not registered under the
Securities Act of 1933, as amended, and are restricted securities. The Company
has agreed to file a registration statement with the Securities and Exchange
Commission covering the resale of the shares.
Item 8.01 Other Events
On January 12, 2011 the Company issued a press release pertaining to the
private offering disclosed in Item 3.02.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Number Description
99 Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: January 13, 2011
SYNERGY RESOURCES CORPORATION
By: /s/ Ed Holloway
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Ed Holloway, President