Dividends on the Series A preferred stock are cumulative from the date of original issue and will be payable on the last day of each calendar month commencing July 31, 2014 when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefor at an initial rate equal to 10% per annum per $25.00 of stated liquidation preference per share, or $2.50 per share of Series A preferred stock per year.
Commencing on June 16, 2017, we may redeem, at our option, the Series A preferred stock, in whole or in part, at a cash redemption price of $25.00 per share, plus any accrued and unpaid dividends to, but not including, the redemption date. The Series A preferred stock has no stated maturity, will not be subject to any sinking fund or other mandatory redemption, and will not be convertible into or exchangeable for any of our other securities.
Full Prospectus PDF », Secondary Prospectus PDF », ENRJ Page »
|
EnerJex Resources is an independent energy company engaged in the business of producing and selling crude oil and natural gas. The crude oil and natural gas is obtained by the acquisition and exploration and development of mineral leases. Development and exploration may include drilling new exploratory or development wells. These operations are conducted in Kansas, Colorado, Nebraska and Texas. As of Dec 31 2016, Co.'s total net proved oil and gas reserves were 1.6 million barrels of oil equivalents, of which 64.1% was natural gas. Of the total proved reserves, about 12.2% are proved developed producing, about 42.3% are proved developed non-producing, and about 45.5% are proved undeveloped. Preferred: ENRJP Open the ENRJ Information Page » |
|
|
Free Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
|