Elephant Oil Corp., an African oil drilling company, set terms for its initial public offering on Friday with plans to offer 1.8 million units, priced at $4.15 to $5.15 each. The company has applied to list on Nasdaq, under the ticker “ELEP.” Spartan Capital Securities LLC is sole bookrunner on the deal. Proceeds will be used to find oil and drilling activities and for working capital and general corporate purposes.
