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

By: MT Newswires
Posted: 5/10/2013 12:13:00 PM
Referenced Stocks: CIE

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.