Kosmos Energy Ltd - Secondary Offering of Shares and Share Repurchase
Kosmos Energy Announces Secondary Public Offering of Common Shares and Share Repurchase
In addition, Kosmos announced that it has agreed to repurchase 35 million of Kosmos's common shares from Warburg Pincus in a separate, privately negotiated Share Repurchase Agreement (the "Share Repurchase") at a price equal to the price per share that the Selling Shareholder will receive from its sale of Kosmos's common stock to the underwriter of the Offering. The Company intends to fund the Share Repurchase with cash on hand and other available sources of liquidity. Although the Share Repurchase will be conditioned upon, among other things, the closing of the Offering, the closing of the Offering will not be conditioned upon the closing of the Share Repurchase. The Share Repurchase has been unanimously approved by disinterested members of the Company's Board of Directors who are not affiliated with the Selling Shareholder.
The Offering is being made pursuant to an effective shelf registration statement, including a prospectus, filed by Kosmos 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, 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.
Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margin. Our key assets include production offshore
short-cycle exploration (
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos'
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