Callon to offer nine million shares of common stock
Published: February 7,2011
NATCHEZ — Callon Petroleum Company intends to offer, subject to market and other conditions, nine million shares of its common stock, par value $0.01 per share.
In connection with this offering, Callon will grant the underwriters an option to purchase 1.35 million additional shares of common stock to cover any over-allotments.
Callon intends to use the net proceeds to fund a portion of its 2011 capital budget and for general corporate purposes, including possible future acquisitions. Callon also intends to use $35 million of the net proceeds to redeem $31 million of its outstanding 13 percent senior notes due 2016 and pay the associated redemption premium.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- UMMC reaching out after death of high school football player
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Gov. Bryant intervening in same-sex couple's divorce
- Vicksburg mayor marries during lunch break
- Mississippi River mayors announce 'seed money' for waterfront developments
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- City leaders vote against offering insurance to one adult, possibly same-sex partner
- School superintendent says he never intended to hire wife's uncle, but recommended him
- McDaniel files legal arguments as he looks to overturn Cochran loss