Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, December 4, 3:19 AM

Slide #551. Miller Energy Resources, Inc. Preferred Stock Offering

Company: Miller Energy Resources, Inc. (MILL)
Date announced: 9/25/2012
Underwriters: MLV & Co., Maxim Group LLC, Williams Financial Group, and National Securities Corporation
Security type: 10.75% Series C Cumulative Redeemable Preferred Stock (MILL.PRC)
Date of Pricing: 9/28/2012
Price Per Share: $23.00
Closed Date: 10/5/2012
Final Completed Deal Size: 685,000.00
Preferred Stock Offering Details: Miller Energy Resources, Inc. announced that it has commenced an underwritten public offering of a newly-designated series of preferred stock, designated as its 10.75% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"). The Company will file an application to list the Series C Preferred Stock on the New York Stock Exchange. MLV & Co., Maxim Group LLC, Williams Financial Group, and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc, are acting as underwriters to offer and sell the Series C Preferred Stock, on a "best efforts" basis. MLV and Maxim Group will be acting as Joint Book-Running Managers and Williams Financial Group and National Securities Corporation as Co-managers for the offering. The Company intends to use the net proceeds from the offering for general corporate purposes. --updated 10/5/12 -- Miller Energy Resources, Inc. announced it has completed and closed its previously announced public offering of 10.75% Series C Cumulative Redeemable Preferred Stock. The Company issued 685,000 shares of the Series C Preferred stock at a price of $23.00 per share, yielding gross proceeds of $15.755 million. The underwriters for this offering included MLV & Co. and Maxim Group LLC, acting as Joint Book-Running Managers, and Williams Financial Group and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), as Co-Managers.

Miller Energy Resources is an independent exploration and production company that utilizes seismic data and other technologies for geophysical exploration, development and operation of oil and gas wells in the Appalachian region of east Tennessee and in southcentral Alaska. Co.'s Alaskan activities include the Cook Inlet, Susitna Basins, and North Fork Unit. Occasionally, during times of excess capacity, Co. provides these services on a contract basis to third-party customers primarily engaged in oil and natural gas exploration and production. As of Apr 30 2014, Co.'s net proved oil and gas reserves were 6.10 billion barrels of oil and 27.64 billion cubic feet of natural gas.

Preferreds: MILL.PRC, MILL.PRD

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Miller Energy Resources, Inc.
Oil & Gas Exploration & Production

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