EnerJex Resources Inc. (OTC: ENRJD) said June 3 that it opened a public offering of 400,000 common shares.
The shares are 10% Series A, cumulative, redeemable, perpetual preferred stock, the company said. They were priced at $25 each, EnerJex added.
Underwriters were given a 45-day option to purchase 60,000 additional shares, the company noted.
Net proceeds will support the development of oil and natural gas properties in Kansas and Colorado, EnerJex said, adding that proceeds will also support general corporate purposes, which might include paying credit facility debts.
Northland Capital ...