NATCHEZ, Miss., March 13, 2015 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced the closing of its previously announced underwritten
public offering of 10,350,000 shares of its common stock, including
1,350,000 shares sold to the underwriter pursuant to its option to
purchase additional shares, which the underwriter exercised in full
on March 12, 2015. Following
this issuance, Callon now has 65,931,941 shares of common stock
issued and outstanding. Total net proceeds of the offering,
after underwriting discounts and estimated offering expenses, will
be approximately $65.7 million.
Callon intends to use the net proceeds from this offering to
repay amounts outstanding under its credit facility, with any
remainder being used for general corporate purposes, which may
include funding of its capital program and future acquisitions.
J.P. Morgan acted as sole book-running manager for the
offering. Copies of the prospectus supplement and
accompanying base prospectus related to the offering may be
obtained for free by visiting EDGAR on the Securities and Exchange
Commission's website at www.sec.gov. Alternatively, copies
may be obtained from J.P. Morgan, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at
(866) 803-9204, or by emailing 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 (including
about the Pending Acquisition) 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