Evolution Petroleum to sell up to $4.5 million more 8.5% preferreds

By Angela McDaniels

Tacoma, Wash., July 15 - Evolution Petroleum Corp. plans to sell up to $4.5 million of its 8.5% series A cumulative preferred stock from time to time, according to an 8-K filing with the Securities and Exchange Commission.

The company will sell up to 180,000 of the preferreds at varying prices through agent McNicoll, Lewis & Vlak LLC under an at-the-market issuance sales agreement reached on Friday.

The preferreds closed at $25.77 (NYSE Amex: EPM.PR.A) on Friday.

The preferreds are callable beginning on July 1, 2014.

As of Friday, 220,000 preferreds were outstanding. The $25.00-par securities were sold on June 28 at $23.00 each for a total of $5.06 million. McNicoll, Lewis & Vlak was the bookrunner.

Evolution Petroleum is a Houston-based oil company.

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