Cobalt International Energy sets price band for initial public offering
3387260Z | Quote | Chart | News | PowerRating -- Update on November 27, 2009:
Cobalt International Energy, Inc., a US-based oil and gas exploration and development company, has set the price band for its proposed initial public offering (IPO) of 63 million shares of common stock at between $15 and $17 per share.
The underwriters have a 30-days option to purchase a maximum of 9.45 million additional shares of common stock from the company to cover over-allotments of shares.
Announcement (September 4, 2009):
Cobalt International Energy has filed a registration statement with the Securities and Exchange Commission (SEC) to raise approximately $1,150 million through an IPO of common shares.
Under the proposed offering, the underwriters have a 30 day option to purchase additional shares of common stock. Cobalt International Energy is planning to list its shares on the New York Stock Exchange under the symbol 'CIE'.
Credit Suisse Securities (USA), LLC, Goldman, Sachs & Co., and J.P. Morgan Securities, Inc. are acting as joint book-running managers for the offering. Morgan Stanley & Co., Incorporated, Tudor, Pickering, Holt & Co. Securities, Inc., UBS Securities LLC, Deutsche Bank Securities, Inc., RBC Capital Markets Corporation, Howard Weil Incorporated, FBR Capital Markets & Co., Thomas Weisel Partners LLC, Natixis Bleichroeder LLC and Capital One Southcoast, Inc. are acting as underwriters for the offering.
Deal Value (US$ Million) 1071
Deal Type IPO
Sub-Category Filing
Deal Status Announced: 2009-09-04
Deal Participants
Target (Company) Cobalt International Energy, L.P.
Deal Rationale
Cobalt International Energy will use the net proceeds from the offering to fund its capital expenditure and for drilling and exploration program through 2011. In addition, it will use the proceeds for general corporate purposes.
No. Shares Issued 63000000
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