NATCHEZ, Miss., Dec. 19, 2016 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today announced the closing of its previously announced underwritten public offering of 40,000,000 shares of its common stock. Following this issuance, Callon now has 201,041,320 shares of common stock issued and outstanding. Total net proceeds of the offering, after underwriters’ discounts and commissions and estimated offering expenses, will be approximately $635.2 million. 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. The Company has granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of its common stock.
Barclays and J.P. Morgan are acting as joint book-running managers for the offering. Citigroup and Credit Suisse are also acting as joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, copies may be obtained 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 firstname.lastname@example.org; 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 email@example.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.