NATCHEZ, Miss., April 19, 2016 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced that it has priced an underwritten public offering of
22,000,000 shares of its common stock for total estimated gross
proceeds (before the underwriter's discounts and commissions and
estimated offering expenses) of $187
million. 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 is expected to
close on April 25, 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 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.
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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/callon-petroleum-company-announces-pricing-of-common-stock-offering-300254226.html
SOURCE Callon Petroleum Company