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Miller Energy Resources, Inc. Completes Public Offering of Its Series C Preferred Stock

May 13 2013 12:00AM

Marketwire

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KNOXVILLE, TN -- (Marketwired) -- 05/13/13 -- Miller Energy Resources, Inc. (NYSE: MILL) (the "Company") announced today that, on May 10, 2013, it completed and closed its previously announced underwritten public offering of its 10.75% Series C Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share) (the "Series C Preferred Stock"). The Company issued 500,000 shares, raising gross proceeds of $11.125 million. MLV & Co. LLC acted as Sole Book-Running Manager for the offering. Maxim Group LLC, National Securities Corporation and Aegis Capital Corp. acted as Co-Managers.

The Series C Preferred Stock is currently traded on the NYSE under the ticker symbol MILLprC. It can be tracked under the symbol MILL-PC on Yahoo Finance and MILL-C on Google Finance and MSN Finance.

An underwriting commission of approximately $765,313 was due at closing with respect to this offering, and in addition, Miller is responsible for the legal fees and expenses incurred by the underwriters, up to an aggregate amount of $40,000. Net proceeds received by the Company from the offering will be used for general corporate purposes, including its drilling program.

The offering was made pursuant to the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission ("SEC") and a final prospectus supplement, filed with the SEC on May 8, 2013. Copies of the prospectus and accompanying prospectus supplement relating to these securities may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by written request to Miller Energy Resources, Inc., 9721 Cogdill Road, Suite 302, Knoxville, TN 37932.

This offering is now completed and this press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About Miller Energy Resources

Miller Energy Resources, Inc. is an oil and natural gas exploration, production and drilling company operating in multiple exploration and production basins in North America. Miller's focus is in Cook Inlet, Alaska and in the heart of Tennessee's Appalachian Basin including the Mississippian Lime and Chattanooga Shale. Miller is headquartered in Knoxville, Tennessee with offices in Anchorage, Alaska and Huntsville, Tennessee. The company's common stock is listed on the NYSE under the symbol MILL.



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Source: Marketwire


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