Hyperdynamics Corporation (OTCPK:HDYN) announced a private placement on best effort basis of 15,068,493.15 units at a price of $1.46 per unit for gross proceeds of $22,000,000 on June 5, 2017. Each unit consists of one common share and a warrant to purchase three-quarters of a share of the company's common stock within two years at an exercise price of $1.825 per whole share. The warrants will have weighted average adjustment anti-dilution protection. The company will issue securities pursuant to exemption provided under section 4(a)(2) of the securities act and Rule 506 of Regulation D. On same date, the company has issued 4,335,625 units at a price of $1.46 per unit for gross proceeds of $6,330,012.5.