OKLAHOMA CITY, May 12, 2009 (GLOBE NEWSWIRE) -- GMX Resources Inc. (Nasdaq:GMXR) today announced that it has filed a preliminary prospectus supplement to its existing shelf registration statement with the U.S. Securities and Exchange Commission (the "SEC") relating to an underwritten public offering of 5,000,000 shares of the Company's common stock.
The Company intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving bank credit facility. The common stock will be offered pursuant to an effective registration statement filed with the SEC. The Company intends to grant the underwriters a 30-day option to purchase a maximum of 750,000 additional shares of its common stock.
Up to 150,000 of the shares offered for sale in the offering to which this communication relates are being reserved for sale, at the price initially offered to the public, to officers and employees of the Company as well as other persons having relationships with the Company.
Merrill Lynch & Co. will act as the sole book-running manager of the offering.
The Company has filed a registration statement including a prospectus and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and related prospectus may be obtained from: Merrill Lynch & Co., c/o 4 World Financial Center, New York, NY Attn: Prospectus Department (phone: 212-449-1000).
The GMX Resources Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5158
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement.