Callon Petroleum Co. revises stock offering.NATCHEZ, Miss.--(BUSINESS WIRE)--Nov. 7, 1995--Callon Petroleum Co. (NASDAQ/NMS:CLNP CLNP - ConnectionLess Network Protocol ) announced today that it has amended its registration statement with the Securities and Exchange Commission to register 1,000,000 shares of Convertible, Exchangeable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Estimated proceeds of the offering is $50 million. The Preferred Stock will be convertible, at the election of the holder, into shares of the company's common stock and exchangeable, at the option of the company, into the company's subordinated debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before due 2010. Managing underwriters Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. for the Preferred Stock offering are Jefferies & Co. Inc. and Morgan Keegan & Co. Inc. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Copies of the prospectus relating the the Preferred Stock may be obtained from the company or Jefferies & Co. Inc., 909 Fannin, Suite 3100, Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the 77010, or Morgan Keegan & Co. Inc., 50 Front St., 20th Floor, Memphis, Tenn. 38103. CONTACT: Callon Petroleum Co., Natchez John Weatherly, 800/451-1294 |
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