NATCHEZ, Miss., March 9, 2015 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced that it has priced an underwritten public offering of
9,000,000 shares of its common stock for total estimated gross
proceeds (before the underwriter's discounts and commissions and
estimated offering expenses) of approximately $59 million. The underwriter will have an
option to purchase up to an additional 1,350,000 shares of common
stock from the Company. The offering is expected to close on or
about March 13, 2015.
Callon intends to use the net proceeds from this offering to
repay amounts outstanding under its credit facility, with any
remainder being used for general corporate purposes, which may
include funding of its capital program and future acquisitions.
J.P. Morgan is acting as sole book-running manager for the
offering. The underwritten public offering will be made only by
means of a prospectus supplement and accompanying base
prospectus. You may obtain these documents for free by
visiting EDGAR on the Securities and Exchange Commission's website
at www.sec.gov. Alternatively, copies may be obtained from
J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717,
via telephone at (866) 803-9204, or by emailing
prospectus-eq_fi@jpmchase.com.
The common stock will be issued and sold pursuant to an
effective shelf registration statement on Form S-3 previously filed
with the SEC.
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 (including
about the Pending Acquisition) 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. 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, available on the
Company's website or the SEC's website at www.sec.gov.
For further information contact:
Joe Gatto
Chief Financial Officer, Senior Vice President and Treasurer
1-800-451-1294
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SOURCE Callon Petroleum Company