NATCHEZ, Miss., April 19, 2016 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced that it has commenced, subject to market and other
conditions, an underwritten public offering of 22,000,000 shares of
its common stock. The underwriters will have an option to purchase
up to an additional 3,300,000 shares of common stock from the
Company. Proceeds from the offering are expected to be used to fund
the pending Big Star Acquisition and AMI Transaction, both as
described in the Company's Report on Form 8-K previously filed on
April 19, 2016. If the
pending acquisitions are 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.
Credit Suisse and Scotia Howard Weil are acting as joint
book-running managers for the offering. The offering will be made
only by means of a preliminary 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
preliminary prospectus supplement and related base prospectus if
you request them by contacting Credit Suisse Securities
(USA) LLC, Attention: Prospectus
Department, One Madison Avenue, New York,
New York 10010, via telephone at 1-800-221-1037, or by
e-mailing newyork.prospectus@credit-suisse.com; or by contacting
Scotia Capital (USA) Inc.,
Prospectus Department, 250 Vesey Street, New York, New York 10281, Attention: Equity
Capital Markets, or via telephone (212) 225-6854.
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 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