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Miller Energy Resources Inc Prices New Offering Of Series C Preferred Stock

Thursday, 27 Jun 2013 09:13am EDT 

Miller Energy Resources Inc announced that it has priced an underwritten public offering of 10.75% Series C Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share) (the Series C Preferred Stock) at a public offering price of $21.50 per share. The Series C Preferred Stock is currently traded on the New York Stock Exchange, LLC, or NYSE, under the ticker symbol MILLprC. Gross proceeds to the Company are expected to be approximately $7.2 million. Closing of the offering is scheduled for July 2, 2013, subject to customary closing conditions. The Company intends to use the net proceeds, if any, from the offering for general corporate purposes. The Company is filing a supplemental listing application to list these shares of Series C Preferred Stock on the NYSE. MLV & Co. LLC is acting as Sole Book-Running Manager for the offering. Aegis Capital Corp., Maxim Group LLC, National Securities Corporation and Northland Capital Markets are acting as Co-Managers. 

Company Quote

0.33 +6.79%
3:46pm EDT