Callon Petroleum Company (CPE) (“Callon” or the “Company”) today announced the closing of its previously announced underwritten public offering of 13,800,000 shares of its common stock, including 1,800,000 shares sold to the underwriters pursuant to their option to purchase additional shares, which the underwriters exercised on November 10, 2015. Following this issuance, Callon now has 80,115,551 shares of common stock issued and outstanding. Total net proceeds of the offering, after underwriters’ discounts and commissions and estimated offering expenses, will be approximately $109.9 million. Proceeds from the offering are expected to be used to repay amounts outstanding under Callon’s credit facility, which were used in part to finance recent acquisitions, with any remainder being used for general corporate purposes, which may include future acquisitions.
J.P. Morgan and Credit Suisse acted as joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, copies may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, via telephone at 866.803.9204, or by e-mailing prospectus-eq_fi@jpmchase.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, via telephone at 1-800-221-1037, or by emailing newyork.prospectus@credit-suisse.com.
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.
