Apparently, this company NGP Capital Resources owned GMX Resources notes and tendered them into the exchange.
On September 19, 2012, GMX consummated its exchange offer for its outstanding 5% Senior Convertible Notes due 2013 (the "2013 Notes"), pursuant to which holders tendering the 2013 Notes received new Senior Secured Second-Priority Notes due 2018 (the "2018 Notes") and shares of GMX common stock. The Company tendered its 2013 Notes in the exchange offer, and consequently received 2018 Notes with a face value of $12,661,000 and 3,646,368 shares of GMX common stock. The Company sold 300,000 shares of GMX common stock in September and an additional 254,000 shares in October 2012.Interesting to hear from someone who took part in the exchange offer (and has apparently kept most of the issued shares).
Interest on the 2018 Notes accrues at a rate of 9% per annum and is payable quarterly (commencing March 2, 2013) at GMX's option, in cash or, with respect to interest paid prior to September 19, 2014, either in the form of cash, GMX common stock, or a combination thereof. The number of shares of GMX stock, if any, to be issued in lieu of cash interest is calculated by assigning a value per share equal to the product of (a) 0.75 and (b) the 10-day volume weighted average price, or VWAP, ending the business day prior to the interest payment date.