NATCHEZ, Miss., Dec. 13, 2016 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced that it has priced an upsized underwritten public
offering of 40,000,000 shares of its common stock for total
estimated gross proceeds (before the underwriter's discounts and
commissions and estimated offering expenses) of $656 million. The underwriters will have an
option to purchase up to an additional 6,000,000 shares of common
stock from the Company.
Proceeds from the offering are expected to be used to fund the
pending Ameredev Acquisition, as described in the Company's Current
Report on Form 8-K previously filed with the Securities and
Exchange Commission on December
13, 2016, and the balance for general corporate
purposes. If the pending Ameredev Acquisition is not consummated,
the Company intends to use the net proceeds of this offering to
fund a portion of its exploration and development activities and
for general corporate purposes, which may include leasehold
interest and property acquisitions, repayment of indebtedness and
working capital.
Barclays and J.P. Morgan are acting as joint book-running
managers for the offering. The offering is expected to close
on December 19, 2016, subject to
customary closing conditions.
The offering will be made only by means of a prospectus
supplement and the accompanying base prospectus, copies of which
may be obtained on the Securities and Exchange Commission's website
at www.sec.gov. Alternatively, the underwriters will arrange to
send you the prospectus supplement and related base prospectus if
you request them by contacting Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, via telephone
at 1-888-603-5847, or by e-mailing
barclaysprospectus@broadridge.com; or J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Attention:
Prospectus Department, via telephone at 1-866-803-9204, or by
e-mailing prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. This offering may only be made by means of a
prospectus supplement and related base prospectus.
About Callon Petroleum Company
Callon is an independent energy company focused on the
acquisition, development, exploration, and operation of oil and gas
properties in the Permian Basin in West
Texas.
Cautionary Statement Regarding Forward Looking
Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than historical facts, that address activities that the
Company assumes, plans, expects, believes, intends or anticipates
(and other similar expressions) will, should or may occur in the
future are forward-looking statements, including regarding the
consummation of the pending acquisition and completion of related
financing and the time frame in which these transactions will
occur. The forward-looking statements are based on management's
current beliefs, based on currently available information, as to
the outcome and timing of future events. These forward-looking
statements involve certain risks and uncertainties that could cause
the results to differ materially from those expected by the
Company's management. Information concerning these risks and other
factors can be found in the Company's filings with the Securities
and Exchange Commission, including its Annual Reports on Form 10-K
and Quarterly Reports on Form 10-Q, available on the Company's
website or the SEC's website at www.sec.gov.
For further information contact:
Eric Williams
Manager, Investor Relations
1-800-451-1294
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/callon-petroleum-company-announces-upsizing-and-pricing-of-common-stock-offering-300377897.html
SOURCE Callon Petroleum Company