Yuma Energy Inc. (NYSE MKT: YUMA)has priced an underwritten public offering of 477,273 shares of its 9.25% Series A Cumulative Redeemable Preferred Stock at a public offering price of $22.00 per share.

Gross proceeds to the company are expected to be approximately $10.5 million before deducting the underwriting discount and other estimated offering expenses payable by Yuma. Closing of the offering is scheduled for October 23, 2014, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering to repay borrowings under its subsidiary's credit facility and general corporate purposes.

In connection with the offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of Series A Preferred Stock to cover over-allotments, if any.