Callon closes on sale of shares for over-allotment
Published: February 23,2011
NATCHEZ — Callon Petroleum Company announced the closing of the sale of 1.1 million shares of its common stock pursuant to the underwriters’ exercise of the over-allotment option, which the company granted in connection with Callon’s previously announced public offering of nine million shares of its common stock.
The exercise of the over-allotment option brings the total net proceeds of the offering to approximately $73.7 million.
Callon intends to use the net proceeds from the offering 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.
One Response to “Callon closes on sale of shares for over-allotment”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- George Flaggs regrets repayment flaw in lending law
- TECH 21 — Mississippi's most wanted in technology
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win
- Chefs John Folse and Rick Tramonto are dotting every ‘i’ and crossing every ‘t’ in the development of Seafood R’evolution, which is set to open in November
- Bryant issues executive order to establish Delta water task force
- PEDIGREE dog food recalled; might contain metal fragments