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Warburg Pincus, a significant shareholder in Ring Energy, Inc. (AMEX:REI), recently sold shares worth a total of $386,696. The transactions occurred over three days in early June, with shares sold at prices ranging from $0.75 to $0.78 each. The stock has shown resilience since these transactions, with a positive YTD return of ~1% and a more substantial 1-year return of ~8%.
On June 5, Warburg Pincus sold 26,606 shares at an average price of $0.75. The following day, June 6, saw a larger sale of 215,476 shares at an average price of $0.77. Finally, on June 9, the firm sold 257,468 shares at an average price of $0.78. Following these transactions, Warburg Pincus holds 24,381,055 shares in Ring Energy.
These sales are part of a broader pattern of trading activity by Warburg Pincus, which is a ten percent owner of Ring Energy. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Ring Energy has announced changes to its Board of Directors. Ms. Regina Roesener will retire, effective April 14, 2025, after joining the board in 2019 and contributing her expertise in financial markets and board governance. Ms. Carla Tharp will replace her as an independent director. Tharp, who is currently the CEO of Apoyar Energy, brings extensive experience in upstream oil and gas exploration and production. Her background includes leadership roles at APA Corporation and experience in energy investment banking. The company believes her technical and financial expertise will complement the existing board. Ring Energy has stated that these board changes align with its strategic plans for growth and success.
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