LEXINGTON, Ky., July 30, 2015 /PRNewswire/ -- RAAM Global Energy
Company ("RAAM" or the "Company") announced today it has made
certain amendments to its previously announced offer to exchange
(the "Exchange Offer") any and all of its outstanding 12.50% Senior
Secured Notes due 2015 (the "Existing Notes") held by Eligible
Holders (as defined below) for newly issued 12.50% Senior Secured
Notes due 2019 (the "New Notes") to be issued by RAAM and shares of
RAAM's common stock, $0.01 par value
per share (the "Exchange Shares"). Concurrently with the Exchange
Offer, RAAM is soliciting consents from holders of the Existing
Notes to certain proposed amendments to the indenture governing the
Existing Notes (the "Consent Solicitation). RAAM is amending the
terms of the Exchange Offer and Consent Solicitation as
follows:
- Expiration. RAAM has extended the expiration date for
each of the Exchange Offer and Consent Solicitation to 11:59 p.m., New York City Time, on August 6, 2015, unless extended by RAAM.
Withdrawal rights under the Exchange Offer will be extended to
5:00 p.m., New York City Time, on
August 6, 2015.
The Exchange Offer and Consent Solicitation, as amended, were
scheduled to expire at 11:59 p.m.,
New York City Time, on July 30, 2015.
At 5:00 p.m., New York City Time, on
July 30, 2015, approximately
$226.5 million principal amount of
Existing Notes representing approximately 95.2% of the outstanding
principal amount of the Existing Notes had been validly tendered
and not withdrawn in the Exchange Offer.
The New Notes or Exchange Shares have not been and will not be
registered under the Securities Act of 1933, as amended (the
"Securities Act"), or the securities laws of any other jurisdiction
and may not be offered, sold or delivered in the United States or to, or for the account or
benefit of, any U.S. person, except pursuant to an effective
registration statement or in accordance with an available exemption
from the registration requirements of the Securities Act. Only
"Eligible Holders" are authorized to participate in the Exchange
Offer. An "Eligible Holder" is a person or entity who (a)
holds at least $20,000 in principal
amount of Existing Notes, and (b) certifies their status as (i) a
"qualified institutional buyer" within the meaning of Rule 144A
under the Securities Act, (ii) an "accredited investor" as defined
in Rule 501(a) of Regulation D of the Securities Act or (iii) a
person outside of the United
States who is not a "U.S. Person" as defined in Rule 902 of
Regulation S under the Securities Act.
This press release is for informational purposes only and does
not constitute an offer to purchase the Existing Notes or an offer
to sell securities. The Exchange Offer and the Consent Solicitation
are only being made pursuant to the offering documents, the
supplement thereto and the related consent and letter of
transmittal, which explain the full terms and conditions of the
Exchange Offer and the Consent Solicitation. The Exchange Offer and
Consent Solicitation do not constitute an offer to exchange
Existing Notes in any jurisdiction in which it is unlawful to make
such an offer under applicable securities law or blue sky laws.
Eligible Holders should read the Offer to Exchange and Consent
Solicitation carefully, as well as any amendments or supplements to
those documents, because they will contain important information.
In addition, RAAM will provide copies of these documents free of
charge to Eligible Holders upon request to Epiq Systems Inc., at
(646) 282-2500 or via email at tabulation@epiqsystems.com
(please include "RAAM" in the subject line).
About RAAM Global Energy Company
RAAM Global Energy Company is engaged primarily in the
exploration and development of oil and gas properties and in the
resulting production and sale of natural gas, condensate and crude
oil. RAAM's production facilities are located in the Gulf of Mexico, offshore Louisiana and onshore Louisiana, Texas, and California.
Forward-looking Statements:
Certain statements and information in this press release may
constitute "forward-looking statements." The words "believe,"
"expect," "anticipate," "plan," "intend," "foresee," "should,"
"would," "could" or other similar expressions are intended to
identify forward-looking statements, which are generally not
historical in nature. These forward-looking statements are based on
RAAM's current expectations and beliefs concerning future
developments and their potential effect on RAAM. While management
believes that these forward-looking statements are reasonable as
and when made, there can be no assurance that future developments
affecting RAAM will be those that it anticipates. RAAM's
forward-looking statements involve significant risks and
uncertainties (some of which are beyond its control) and
assumptions that could cause actual results to differ materially
from its historical experience and its present expectations or
projections. Forward-looking statements involve known and unknown
risks, uncertainties and other factors (some of which are beyond
RAAM's control) that may cause RAAM's actual results, performance
or achievements to be materially different from the anticipated
future results or financial condition expressed or implied by the
forward-looking statements. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date hereof. RAAM undertakes no obligation to
publicly update or revise any forward-looking statements after the
date they are made, whether as a result of new information, future
events or otherwise.
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SOURCE RAAM Global Energy Company