Callon Petroleum Company (CPE) has issued an update.
In a significant move within the financial market, Callon shareholders have experienced a fundamental change due to a merger, resulting in each share of Callon Common Stock being converted into 1.0425 shares of APA Common Stock. Callon’s stock has been delisted from NYSE as of April 1, 2024, following the merger’s completion. Alongside these developments, the company has also successfully completed cash tender offers for its senior notes, signaling a strategic shift in its financial structuring, while adopting amendments that relax certain covenants and conditions in its debt agreements. This series of events marks a notable transformation for Callon and its investors, reshaping the company’s leadership and financial landscape.
Learn more about CPE stock on TipRanks’ Stock Analysis page.
