By Tali David
Minneapolis, Oct. 18 - Miller Energy Resources, Inc. said it registered to sell up to $75 million of its 10.5% series D fixed-rate/floating-rate cumulative redeemable preferred stock from time to time through an at-the-market offering program with MLV & Co. LLC as the agent.
The preferreds have a liquidation preference of $25 per share, according to an 8-K filed with the Securities and Exchange Commission.
The fixed-rate term ends on Dec. 1, 2018. The floating-rate term is from and including Dec. 1, 2018 and thereafter.
Proceeds will be used for general corporate purposes.
Miller is a Knoxville, Tenn.-based oil and natural gas company.
Issuer: | Miller Energy Resources, Inc.
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Issue: | Series D fixed-rate/floating-rate cumulative redeemable preferred stock
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Amount: | $75 million
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Agent: | MLV & Co. LLC
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Dividend: | 10.5%
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Liquidation preference: | Par of $25
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Announcement date: | Oct. 17
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Listing: | NYSE: MILL
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