NATCHEZ, Miss., Sept. 6, 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 23,000,000 shares of
its common stock by the Company. The Company expects to grant
the underwriters an option to purchase up to an additional
3,450,000 shares of common stock from the Company. Proceeds from
the offering are expected to be used to fund substantially all of
the pending Plymouth Acquisition, as described in the Company's
Report on Form 8-K filed with the Securities and Exchange
Commission on September 6, 2016.
If the pending Plymouth 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.
Credit Suisse and J.P. Morgan 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 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.
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 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:
Joe Gatto
President, Chief Financial Officer and Treasurer
1-800-451-1294
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SOURCE Callon Petroleum Company