Arabella Exploration, LLC entered into a merger agreement to acquire Lone Oak Acquisition Corporation from AQR Capital Management, LLC and other shareholders in a reverse merger transaction.
The closing of the transaction is subject to certain conditions specified in the agreement, including that $5 million of net cash remain in Lone Oak post transaction, financial audit of Lone Oak, consummation of due diligence, approval from the shareholders of Arabella and Lone Oak, execution of employment agreement, cancellation of options, completion of an offer, financial audit of the Lone Oak, Lone Oak's directors resigning and approval from regulatory authorities. The transaction will be terminated if the closing does not take place by December 24, 2013. Mitchell S. Nussbaum and Giovanni Caruso of Loeb & Loeb LLP acted as legal advisor for Lone Oak and Michael Dawson of Dawson Parrish, PC acted as legal advisor for Arabella.