Cobalt International Energy, Inc. Revises Effective Date of Reverse Stock Split
15 June 2017 - 1:38AM
Business Wire
Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today
announced that it has revised the effective date of its
previously announced 1-for-15 reverse stock split of Cobalt’s
issued and outstanding shares of common stock, which will now
become effective upon the filing and effectiveness of a Certificate
of Amendment to Cobalt’s Second Amended and Restated Certificate of
Incorporation after the market closes on or
about June 16, 2017. Trading on a split adjusted basis is
planned to begin when the market opens on June 19, 2017.
No fractional shares will be issued in connection with the reverse
stock split. Stockholders who would otherwise be entitled to
receive a fractional share of Cobalt’s common stock will receive a
full share in lieu of such fractional share.
Following the reverse split, Cobalt’s shares of common stock
will continue to trade on the New York Stock
Exchange under the symbol “CIE.” 19075F 304 will be the new
CUSIP number under which Cobalt’s common stock will trade following
the reverse stock split.
Stockholders who own uncertificated shares of Cobalt stock are
not required to take any action to receive the shares in connection
with the reverse stock split and they will not be required to
surrender or exchange their shares of Cobalt common stock. The
transfer agent will automatically issue the new shares via a
statement. Stockholders who own certificated shares of Cobalt stock
will be required to transmit their certificates to the transfer
agent in exchange for updated certificates upon receipt of the
Letter of Transmittal mailing. Proportional adjustments will be
made to the conversion and exercise prices of the company’s
outstanding warrants, convertible notes and stock options, and the
number of shares issued and issuable under the company’s equity
compensation plans.
The transfer agent for Cobalt’s common stock is Continental
Stock Transfer & Trust Company. For questions relating to the
transfer or mechanics of the reverse stock split, stockholders may
contact Continental Stock Transfer & Trust Company, 1
State Street, 30th Floor, New York, NY 10004-1561. If
shares are held by a bank, broker or other nominee, stockholders
should contact that institution directly.
About Cobalt
Cobalt International Energy, Inc. (NYSE:CIE) is an
independent exploration and production company active in the
deepwater U.S. Gulf of Mexico and offshore West
Africa. Cobalt was formed in 2005 and is headquartered
in Houston, Texas.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the federal securities laws, including the safe
harbor provisions of the Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934 — that is,
statements related to future, not past, events. Forward-looking
statements are based on current expectations and include any
statement that does not directly relate to a current or historical
fact. In this context, forward-looking statements often address
Cobalt’s expected future business and financial performance, and
often contain words such as “anticipate,” “believe,” “may,” “will,”
“aim,” “estimate,” “continue,” “intend,” “could,” “expect,” “plan,”
and other similar words. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be
accurate. Actual results and future events could differ materially
from those anticipated in such statements. For further discussion
of risks and uncertainties, individuals should refer to
Cobalt’s SEC filings. Cobalt disclaims any obligation or
undertaking, and does not intend, to update these forward-looking
statements to reflect events or circumstances occurring after this
press release, other than as required by law. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20170614005845/en/
Cobalt International Energy, Inc.Investor Relations:Aaron
Skidmore, +1 (713) 457-4426Director, Investor RelationsorMedia
Relations:Lynne L. Hackedorn, +1 (713) 579-9115Vice President,
Government and Public Affairs