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GreenHunter Energy Announces Pricing Of Public Offering Of 10.0% Series “C” Perpetual Preferred Stock

Stocks in this article: GRH

GreenHunter Energy, Inc. (NYSE MKT: GRH) (the “Company”), a diversified renewable energy company predominately focused on water resource management in the unconventional oil and natural gas shale resource plays, announced today that it has priced a best-efforts public offering of 425,000 shares of its non-convertible 10.0% Series C Cumulative Preferred Stock (liquidation preference of $25.00 per share) at a public offering price of $21.00 per share. The offering is expected to close on July 31, 2012. Upon issuance, the Company anticipates that the 10.0% Series C Cumulative Preferred Stock will be listed for trading on the NYSE MKT under the ticker symbol “GRH.PR.C.”

MLV & Co. acted as sole book runner for the offering. National Securities Corporation, Northland Capital Markets and Livingston Securities acted as co-managers.

The net proceeds to the Company from the offering will be approximately $8.3 million, after deducting underwriting discounts, commissions and estimated offering expenses. The Company intends to use net proceeds from the offering for capital expenditures, working capital, development and acquisitions, directly or indirectly, of salt water disposal facilities, repayment or refinancing of indebtedness, investments in its subsidiaries, or general corporate purposes. Pending any specific application, the Company may initially invest funds in short-term marketable securities or apply them to the reduction of short-term indebtedness.

The offering is being made pursuant to a registration statement that the Company previously filed with, and was declared effective by, the Securities and Exchange Commission (the "SEC"). A final prospectus relating to the offering will be filed with the SEC. Copies of the final prospectus may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by written request to GreenHunter Energy, Inc., 1048 Texan Trail, Grapevine, Texas 76051, Attention: Investor Relations.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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