NATCHEZ, Miss., Dec. 19, 2016 /PRNewswire/ -- Callon Petroleum
Company (NYSE: CPE) ("Callon" or the "Company") today announced the
closing of its previously announced underwritten public offering of
40,000,000 shares of its common stock. Following this
issuance, Callon now has 201,041,320 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 $635.2
million. Proceeds from the offering are expected to be
used to fund the pending Ameredev Acquisition as described in the
Company's Current Report on Form 8-K previously filed with the
Securities and Exchange Commission on December 13, 2016, and
the balance for general corporate purposes. 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.
The Company has granted the underwriters a 30-day option to
purchase up to an additional 6,000,000 shares of its common
stock.
Barclays and J.P. Morgan are acting as joint book-running
managers for the offering. Citigroup and Credit Suisse are also
acting 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 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.
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 the time frame in which
the pending acquisition 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