Miller Energy to bring best-efforts add-on to 10¾% cumulative preferreds via MLV

By Stephanie N. Rotondo

Phoenix, Feb. 11 - Miller Energy Resources Inc. announced a best-efforts add-on offering of its 10¾% series C cumulative redeemable perpetual preferred stock (NYSE: MILLPC), the company said in a prospectus filed with the Securities and Exchange Commission on Monday.

MLV & Co. is the bookrunner. Co-managers are Maxim Group LLC and Williams Financial Group Inc.

Dividends are payable on the first day of December, March, June and September. The preferreds become redeemable on or after Nov. 1, 2017 at par plus accrued dividends.

There is also a change-of-control feature.

Proceeds will be used for general corporate purposes.

Miller Energy is a Knoxville, Tenn.-based oil and gas exploration company.

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