Cobalt International Energy Closes 50 Million Share Offering; Stock Up Nearly 1%


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Cobalt International Energy, Inc. ( CIE ) has closed its previously announced registered underwritten public offering of shares of its common stock

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. 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.

CIE is up 0.9% at $26.85. Shares have a day range of $26.39 - $26.89, with a 52-week spread of $19.68 - $29.45.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CIE

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