Callon Petroleum Prices 12M Share Offering for Gross Proceeds of $100.8M

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Callon Petroleum Company
CPE
today announced that it has priced an upsized underwritten public offering of 12,000,000 shares of its common stock for total estimated gross proceeds (before the underwriter's discounts and commissions and estimated offering expenses) of approximately $100.8 million.  The underwriters will have an option for 30 days to purchase up to an additional 1,800,000 shares of common stock from the Company. 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 are acting as joint book-running managers for the offering. The offering is expected to close on November 16, 2015, subject to customary closing conditions. The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the Securities and Exchange Commission's website at www.sec.gov. Alternatively, the underwriters will arrange to send you the prospectus supplement and related base prospectus if you request them by contacting J.P. Morgan Securities LLC,
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Posted In: NewsOfferingsPress Releases
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