EnerJex Resources Announces Upsizing & Pricing of $13.2 Million Public Offering of Non-Dilutive 10% Series A Perpetual Prefer...
16 Junho 2014 - 7:21PM
Marketwired
EnerJex Resources Announces Upsizing and Pricing of $13.2 Million
Public Offering of Non-Dilutive 10% Series A Perpetual Preferred
Stock
SAN ANTONIO, TX--(Marketwired - Jun 16, 2014) - EnerJex
Resources, Inc. (OTCQB: ENRJ) (OTCQB: ENRJD) (OTCQB: ENRJPR)
("EnerJex" or the "Company"), an independent exploration and
production company focused on the acquisition and development of
oil and natural gas properties located in the mid-continent region
of the United States, announced today that it has priced a public
offering of 555,789 shares of its 10% Series A Cumulative
Redeemable Perpetual Preferred Stock (liquidation preference of
$25.00 per share) at $23.75 per share for gross proceeds of $13.2
million. The offering is expected to settle and close on June 20,
2014, subject to customary closing conditions. Trading of the
preferred stock on the NYSEMKT will commence on June 17, 2014 under
the symbol "ENRJPR".
The size of the offering was upsized from the previously
announced 400,000 shares, and the underwriters have a 45-day option
to purchase 83,368 additional shares from EnerJex to cover any
over-allotments. The preferred stock is not convertible into common
shares of EnerJex and no warrants were issued to the investors or
underwriters in conjunction with the offering.
The Company intends to use the net proceeds from the offering to
accelerate the development of its oil and natural gas properties
located in Kansas and Colorado, and for general corporate purposes,
which may include temporary repayment of outstanding borrowings
under its revolving credit facility.
Northland Capital Markets and Euro Pacific Capital acted as the
joint book-running managers of the offering. 'Northland Capital
Markets' is the trade name for certain capital market and
investment banking services of Northland Securities, Inc., member
FINRA/SIPC.
The offering was made pursuant to a Registration Statement on
Form S-1 previously filed by EnerJex that was declared effective by
the Securities and Exchange Commission on June 16, 2014. This
offering is being made solely by means of a prospectus, copies of
which may be obtained from the SEC's website at www.sec.gov or from
either of the following:
Northland Capital Markets Carl Goltermann 4100 MacArthur Blvd
Suite 120 Newport Beach, CA 92660 (949) 600-4150
cgoltermann@northlandcapitalmarkets.com
Euro Pacific Capital Jayson Schroeder 1201 Dove Street, Suite
200 Newport Beach, CA 92660 (949) 732-3543
jschroeder@europac.net
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About EnerJex
Resources
EnerJex Resources, Inc. is an independent exploration and
production company focused on the acquisition and development of
oil and natural gas properties located in the mid-continent region
of the United States. The Company owns oil and gas leases covering
nearly 100,000 net acres in multiple prolific hydrocarbon basins
located in four states including Colorado, Kansas, Nebraska, and
Texas.
EnerJex's operations are focused in five distinct projects where
the company produces oil and natural gas from reservoirs that are
characterized by long lived reserves with low production decline
rates. Within these projects, the Company has identified more than
500 low-risk drilling locations. Through its large acreage
footprint in the Denver-Julesburg ("DJ") Basin, EnerJex also has
significant exposure to emerging oil resource plays that are being
pursued by competitors on trend with the Company's properties.
EnerJex's headquarters are located in San Antonio, Texas, and
additional information is available on its website at
www.enerjex.com.
Contact: EnerJex
Resources, Inc. Robert G. Watson, Jr. CEO (210) 451-5545
Enerjex Resources, Inc. (AMEX:ENRJ)
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