NATCHEZ, Miss., Dec. 13, 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 34,000,000 shares of
its common stock by the Company. The Company expects to grant
the underwriters an option to purchase up to an additional
5,100,000 shares of common stock from the Company. Proceeds from
the offering are expected to be used to partially fund the pending
Ameredev Acquisition, as described in the Company's Current Report
on Form 8-K filed with the Securities and Exchange Commission on
December 13, 2016. 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.
Barclays 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 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 barclaysprospectus@broadridge.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, including regarding the
consummation of the pending acquisition and completion of related
financing and the time frame in which these transactions will
occur. 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:
Eric Williams
Manager, Investor Relations
1-800-451-1294
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SOURCE Callon Petroleum Company