Northern Oil & Gas Inc. $(NOG)$ has successfully closed the reopening of its 3.625% Convertible Unsecured Senior Notes due April 2029. The company raised over $200 million in gross proceeds, including the initial purchasers' option to purchase additional notes, at an issue price of 105.597%, resulting in approximately $211.2 million in gross proceeds. This issuance was done at a 5.597% premium to par. The offering enhances the company's liquidity and debt maturity schedule and was accompanied by a $35 million share repurchase and capped call transactions to mitigate potential dilution. Proceeds from the offering, net of capped calls, share repurchase, and fees, amounted to approximately $152 million, which the company intends to use to reduce its revolving credit facility balance. The anticipated interest and dividend savings from this strategic financial maneuver are projected at approximately $5 million per annum. Additional details about the offering can be found here.