Panhandle Oil And Gas (PHX) Announces Proposed 5M Share Common Offering

PANHANDLE OIL AND GAS, INC. (NYSE: PHX) announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock (the "Common Stock Offering"). Panhandle also intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock.

Panhandle intends to use the net proceeds from the offering for pending acquisitions and for general corporate purposes.

Stifel and Northland Capital Markets are acting as joint book-running managers for the offering with Stifel acting as representative of the underwriters.

The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.

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