GMX Resources Inc. - 2011-02-04


Priced a public offering of approximately 21.1 million shares of its common stock at $4.75 per share.

Net proceeds will be used to fund an offer to purchase up to $50 million of its outstanding 5% convertible senior notes due 2013; to pay the current outstanding balance under its secured revolving credit facility; to fund the purchase price of pending acquisitions of undeveloped oil and gas leases; to fund its exploration and development program; and for other general corporate purposes.

Morgan Stanley & Co. Inc. and Credit Suisse Securities (USA) LLC are joint book-running managers. Other underwriters include Capital One Southcoast Inc., Pritchard Capital Partners LLC, Johnson Rice & Co. LLC and Howard Weil Inc.

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