Finance & Investing | Capital Markets | Reverse Stock Split
Callon Reverse Stock Split Approved by Shareholders
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Callon Petroleum's shareholders approved its proposed reverse-stock split at its annual meeting held on June 8, 2020.
In its SEC filing, the company stated that during the meeting: "[Shareholders] approved an amendment to the Company’s Certificate of Incorporation to permit the Company to effect a reverse stock split of its issued and outstanding shares of Common Stock, at a ratio that will be determined by the Board and ranging between 1-for-10 and 1-for-50 if the Board determines, in its sole discretion, at any time prior to the first anniversary of the Annual Meeting, that such reverse stock split is in the best interests of the Company and its shareholders."
As of the close of business on April 14, 2020, the record date for the Annual Meeting, there were 397,002,537 shares of Common Stock outstanding. A total of 322,908,926 shares of Common Stock were represented in person or by proxy at the Annual Meeting.
Directors Elected
Also at the meeting, shareholders elected three Class II directors to serve on the Board, each for three years.
Callon Stock Performance. (as of 6/10/2020)
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