December 4, 2009 (FinancialWire) — Hyperdynamics Corp. (AMEX: HDY) said it has entered into a definitive agreement to sell 7,222,223 shares of its common stock at a price per share of $0.90 pursuant to a registered direct offering to institutional investors, resulting in gross proceeds of around $6.5 million.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), acted as the exclusive placement agent for the transaction.

In addition to the issuance of the shares of common stock, Hyperdynamics will issue to the investors warrants to purchase up to 3,250,000 shares of common stock with an exercise price of $0.98 per share.

The warrants will be exercisable over a four year term commencing 6 months from the closing date of the transaction.

Hyperdynamics plans to use the net proceeds from the offering to fund a portion of their seismic data acquisition and processing, extinguishment of long term debt, working capital and general corporate purposes.

Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa.

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