Hyperdynamics Corporation (AMEX: HDY) announced a private placement of stock purchase agreement of 40,000,000 common shares at a price of $0.15 per share with China LNG Shipping (Holdings) Co., Ltd. its affiliate for gross proceeds of $6,000,000 on November 3, 2017. On closing China LNG Shipping (Holdings) Co., Ltd. will hold 53% stake in the company. The closing of the transaction is subject to the completion of satisfactory due diligence by each party of the other, waiver by holders of Hyperdynamics' series A convertible preferred stock of their right of first refusal, and satisfaction of other customary closing conditions.