OKLAHOMA CITY (AFX) - GMX Resources Inc., an oil and natural gas explorer and producer, said Friday it amended a loan agreement to boost its borrowing base to $35 million from $24 million.
The company also said it filed a shelf registration statement with the Securities and Exchange Commission for a $200 million offering of debt and stock.
The shelf registration means GMX Resources may offer debt securities, preferred stock, depositary shares, common stock, warrants or other units in one or multiple offerings. The company said it has no current plans to issue any stock related to the shelf registration, but that it wants the ability to raise capital in the future if the need arises.
The company said it added Union Bank of California as a lender to its loan agreement with Capitol One, National Association.
GMX Resources shares fell 6 cents in after-hours trading to $33.96 on the INET electronic exchange. They had closed down 85 cents, or 2.4 percent, at $34.02 on the Nasdaq. The stock has traded between $11.77 and $50.50 over the past 52 weeks.
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