Cobalt International Energy, Inc. Announces Public Offering of Convertible Senior Notes
The Notes will be Cobalt’s senior unsecured obligations and interest
will be payable semi-annually in arrears on
The Notes will be convertible at the holder’s option, under certain circumstances and during certain periods, into cash, shares of Cobalt’s common stock or a combination of cash and shares of Cobalt’s common stock, at Cobalt’s election. In addition, following certain corporate events that occur prior to the maturity date, in certain circumstances, Cobalt will increase the conversion rate for a holder who elects to convert its Notes.
Cobalt may not redeem the Notes prior to
Cobalt intends to use the net proceeds from the sale of the Notes to fund its capital expenditures and for general corporate purposes.
The offering is being made pursuant to an effective shelf registration
statement, including a prospectus and a preliminary prospectus
supplement relating to the offering, filed by Cobalt with the
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.
About Cobalt
Cobalt is an independent exploration and production company with
operations in the deepwater U.S. Gulf of
Forward-Looking Statements
This press release includes “forward-looking statements” within the
meaning of the safe harbor provisions of 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,” “intend,” “expect,” “plan,” “will” or 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
Source:
Cobalt International Energy, Inc.
Investor Relations:
John P.
Wilkirson, +1-713-452-2322
Chief Financial Officer
or
Media
Relations:
Lynne L. Hackedorn, +1-713-579-9115
Vice President,
Government and Public Affairs