This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:GMX Resources Inc. Announces Pricing of Common Stock Offering and Pricing of $75 Million Principal Amount of Convertible Senior Notes Offering 2009-10-23 01:10 ET - News Release OKLAHOMA CITY, Oct. 23, 2009 (GLOBE NEWSWIRE) -- GMX Resources Inc. (the "Company") (Nasdaq:GMXR) today announced that it has priced a public offering of 6,950,000 shares of its common stock, which was previously announced at 5,750,000 shares, at $15.00 per share as well as a public offering of $75 million aggregate principal amount of its convertible senior notes due 2015, which was previously announced at $70 million aggregate principal amount, and expects the issuance and delivery of the shares and the notes to occur on October 28, 2009, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase a maximum of 1,042,500 additional shares of its common stock as well as a 30-day option to purchase a maximum of $11.25 million aggregate principal amount of additional notes, in each case, solely to cover over-allotments. The Company intends to use the aggregate net proceeds from these offerings to repay a portion of the outstanding indebtedness under its revolving bank credit facility, to repay all of its outstanding senior secured notes and for general corporate purposes.
The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page