Mid-Con Energy Partners, LP announced that it has received $25 million in funding from a group of investors

On August 11, 2016, Mid-Con Energy Partners, LP (NasdaqGS:MCEP) closed the transaction. The company issued 11,627,906 preferred units for gross proceeds of $25,000,000. At any time during the period beginning on February 11, 2017 and ending immediately prior to the first to occur of the fifth anniversary of the closing date, the investors can convert the preferred shares to common shares on a one to one basis.

The transaction included participation from Mid-Con Energy III, LLC for $2,000,000. Goff MCEP Holdings, LLC, Goff REN Holdings, LLC, and GAINSCO, Inc. (OTCPK:GANS) acquired 4,000,000, 5,800,000, and 3,000,000 shares in the company.