FX Energy Inc. | 9.25% Series B Cumulative Convertible Preferred Stock (FXENP)

Prospectus excerpt:  We are offering 800,000 shares of our 9.25% Series B Cumulative Convertible Preferred Stock, par value $0.001, which we refer to in this prospectus supplement as the "Series B Preferred Stock." The offering of Series B Preferred Stock contemplated by this prospectus supplement is the first issuance of shares of this series by us. We are also registering up to 11,940,000 shares of our common stock, par value $0.001 per share, which we refer to as common stock in this prospectus supplement (up to 13,731,000 shares of our common stock assuming exercise in full of the overallotment option described below). Such shares of common stock may be issued as a result of the conversion of Series B Preferred Stock as more fully described herein. Dividends will accrue from the date of issuance of shares of Series B Preferred Stock issued pursuant to this prospectus supplement, and payment will be made on the last day of each January, April, July, and October, commencing on October 31, 2014. Any other subsequently issued shares of Series B Preferred Stock will become entitled to dividends commencing on the first quarterly record date following the date of issuance, with dividends to be paid at the end of the quarter to such holders of record. Dividends will be in the amount of $2.3125 per share each year, which is equivalent to 9.25% of the $25.00 liquidation preference per share. If the Series B Preferred Stock, however, is not listed on the New York Stock Exchange, the NYSE MKT LLC, The NASDAQ Global, Global Select or Capital Market, or a comparable registered national securities exchange (each, a "National Exchange") for a total of at least 180 consecutive days after the Series B Preferred Stock becomes eligible for listing on a National Exchange, or if we fail to pay cash dividends on the outstanding Series B Preferred Stock in full for any four consecutive or nonconsecutive quarterly periods and such dividends remain accumulated, accrued, and unpaid, subject to our right to remedy these matters as described in this prospectus supplement, investors will be entitled to receive cumulative cash dividends at the increased rate of 11.25% per annum of the $25.00 liquidation preference per share (equivalent to $2.8125 per year per share) as outlined in this prospectus supplement.

The Series B Preferred Stock will be governed by an Amendment to the Articles of Incorporation Designating Rights, Privileges, and Preferences ("Series B Preferred Stock Designation"). The Series B Preferred Stock will be subordinate to all of our existing and future debt and all future capital stock designated as senior to the Series B Preferred Stock. Our Series B Preferred Stock will rank senior to our common stock and Series A Preferred Stock in dividend and liquidation rights.

Full Prospectus PDF », FXEN Page »

Call Date:7/17/2017 (Now Trading Post Call Date)
Shares Offered:800,000
Liquidation Preference:$25
Original Coupon:9.25%
Pay Period:Quarterly
Pay Dates:31-Jan, 30-Apr, 31-Jul, 31-Oct
CDx3 Compliance Rating: Learn FXENP's Rating
FX Energy is an independent oil and gas exploration and production company with principal production, reserves, and exploration in Poland and oil production, oilfield service, and exploration activities in the U.S. Co. focuses its exploration efforts in Poland, primarily on the Rotliegend sandstones of the Permian Basin. Co.'s U.S. operations consist mostly of shallow, waterflood oil-producing wells in the Southwest Cut Bank Sand Unit of Montana. Co. also provides third-party contract oilfield services. At Dec 31 2014, Co. had total estimated proved reserves of 39.53 billion cubic feet of gas equivalent, consisting of 37.39 billion cubic feet of natural gas and 0.4 million barrels of oil.

Preferred: FXENP

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FX Energy Inc.
Oil & Gas Exploration & Production

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