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Chesapeake Energy issues shares in exchange for 2.5% contingent convertibles
By Jennifer Chiou
New York, Oct. 31 - Chesapeake Energy Corp. entered into numerous transactions under which it issued shares to holders in exchange for their 2.5% convertible senior notes due May 15, 2037, according to an 8-K filing with the Securities and Exchange Commission.
The Oklahoma City-based oil and gas exploration and production company said that the transactions, all unsolicited, included the following:
• Effective Oct. 31, the company issued 218,697 shares in exchange for $7.5 million of the notes;
• Effective Oct. 21, it issued 223,567 shares of in exchange for $7.67 million of the convertibles;
• Effective Oct. 24, the company issued 771,022 shares in exchange for $25 million of the notes;
• Also effective Oct. 24, it issued 929,471 shares in exchange for $30 million of the convertibles;
• Effective Oct. 27, the company issued 2,250,857 shares in exchange for $74.2 million of the notes;
• Also effective Oct. 27, the company said it issued 1,732,983 shares in exchange for $69.5 million of the notes;
• Effective Oct. 29, it issued 157,300 shares in exchange for $4.78 million of the convertibles; and
• Also effective Oct. 29, the company issued 627,358 shares in exchange for $25.11 million of the notes.
The acquired notes were canceled.
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