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Miller loan amendment allows it to issue $50 million more preferreds
By Angela McDaniels
Tacoma, Wash., March 12 – Miller Energy Resources, Inc. amended its credit agreement to allow it to issue an additional $50 million of preferred stock, according to an 8-K filing with the Securities and Exchange Commission.
The amendment requires the company to raise at least $10 million of net cash proceeds from the issuance of preferred equity interests on or before April 30.
The amendment was made on Wednesday.
Miller Energy is a Knoxville, Tenn.-based oil and natural gas exploration and development company.
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