Press release from Business Wire
Cobalt International Energy, Inc. Closes Secondary Public Offering of Common Stock
Friday, May 10, 2013
Cobalt International Energy, Inc. Closes Secondary Public Offering of Common Stock12:00 EDT Friday, May 10, 2013
HOUSTON (Business Wire) -- Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced the closing of the previously announced registered underwritten public offering of shares of its common stock, all of which were sold by funds affiliated with First Reserve Corporation, Goldman, Sachs & Co., Riverstone Holdings LLC, The Carlyle Group, and KERN Partners Ltd (collectively, the “selling stockholders”). The selling stockholders sold a total of 50,000,000 shares of Cobalt's common stock. The underwriter also may purchase up to an additional 7,500,000 shares of common stock from certain of the selling stockholders should the underwriter exercise its over-allotment option. Cobalt will not receive any of the proceeds from the sale of the shares of common stock. Citigroup acted as the underwriter of the offering.
Cobalt is an independent oil exploration and production company focusing on the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa. Cobalt was formed in 2005 and is headquartered in Houston, Texas.
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 SEC filings. Cobalt undertakes no obligation 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.
Cobalt International Energy, Inc.
Richard A. Smith, +1 713-579-9141
Vice President, Investor Relations, Compliance and Risk Management
Lynne L. Hackedorn, +1 713-579-9115
Vice President, Government and Public Affairs