May 14, 2009 (FinancialWire) — GMX Resources Inc. (NASDAQ: GMXR) has filed a preliminary prospectus supplement to its existing shelf registration statement with the U.S. Securities and Exchange Commission relating to an underwritten public offering of 5 million shares of the company’s common stock.

The company intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving bank credit facility. The common stock will be offered pursuant to an effective registration statement filed with the SEC. The company intends to grant the underwriters a 30-day option to purchase a maximum of 750,000 additional shares of its common stock.

Up to 150,000 of the shares offered for sale in the offering to which this communication relates are being reserved for sale, at the price initially offered to the public, to officers and employees of the company as well as other persons having relationships with the company.

Merrill Lynch & Co. will act as the sole book-running manager of the offering.

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