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Prospect News home > News index > List of issuers T > Headlines for Tenders 2012 > News item |
GMX holders exchange $4.12 million of 5% convertibles for stock, cash
By Marisa Wong
Madison, Wis., March 26 - GMX Resources Inc. entered into an exchange agreement on March 23 with seven holders of its 5% convertible senior notes due 2013, according to an 8-K filing with the Securities and Exchange Commission.
The holders will exchange $4.12 million principal amount of the convertible notes for 2,245,400 shares of GMX common stock, along with a cash consideration relating to accrued interest.
GMX is an Oklahoma City-based natural gas exploration and production company.
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