UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported)  September 29, 2005

 

Cano Petroleum, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

000-50386

 

98-040164

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

The Oil & Gas Commerce Building

 

 

309 West 7th Street, Suite 1600

 

 

Fort Worth, Texas

 

76102

(Address of Principal Executive Offices)

 

(Zip Code)

 

(817) 698-0900

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 3.02.                                          Unregistered Sales of Equity Securities.

 

As previously reported on a Current Report filed on September 22, 2005, on September 16, 2005, Cano Petroleum, Inc. (“Cano”) entered into Subscription Agreements with the Investors set forth below (the “Investors”) pursuant to which the Investors agreed to purchase, subject to approval of the stock listing with the American Stock Exchange, 2,100,000 shares of Cano common stock at a price of $4.14 per share for an aggregate of $8,694,000.  On September 29-30, 2005, Cano closed the transaction and sold the 2,100,000 share of Cano common stock to the Investors with each Investor purchasing the number of shares set forth opposite its name below:

 

Investor

 

Shares

 

Amount

 

Howard Hughes Medical Institute

 

266,500

 

$

1,103,310

 

The Robert Wood Johnson Foundation

 

305,700

 

$

1,265,598

 

Laborers’ District Council and Contractors’ of Ohio Pension Fund

 

48,800

 

$

202,032

 

Ohio Carpenters’ Pension Fund

 

83,500

 

$

345,690

 

New York Nurses Association Pension Plan

 

153,400

 

$

635,076

 

Public Sector Pension Investment Board

 

349,600

 

$

1,447,344

 

Spindrift Investors (Bermuda) L.P.

 

478,400

 

$

1,980,576

 

Spindrift Partners, L.P.

 

414,100

 

$

1,714,374

 

Total

 

2,100,000

 

$

8,694,000

 

 

The shares were sold only to “accredited investors” pursuant to an exemption from registration under the Securities Act provided by Rule 506 of Regulation D promulgated pursuant to the Securities Act.

 

* * * * *

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

CANO PETROLEUM, INC.

 

 

Date: October 5, 2005

 

 

By:

/s/ Michael J. Ricketts

 

 

Michael J. Ricketts

 

 

Chief Financial Officer

 

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