APA Corp (APA): M&A transaction — APA closes Callon acquisition; issues ~70M shares, adds 120K net Delaware acres

APA Corp

Each Callon share converted to 1.0425 APA shares; ~70M APA shares issued.
APA daily production ~500k BOE with ~2/3 from Permian; Callon Q4 production 103k BOE/d.
Board expanded to 12; Matthew R. Bob and Anya Weaving appointed.
APA borrowed $1.5B in 3-year term loans to refinance Callon debt; $23.9M of Callon notes remain.
Warrants to purchase 501,708 APA shares at $88.15 per share, expiring August 10, 2027.

item 1.01 item 2.01 item 2.03 item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Anya Weaving

Director

APA · APA Corp

Effective: 2024-04-01
Filed: April 1, 2024, 7:59 PM ET

the Board appointed Anya Weaving as a member of the Board, effective immediately following the Effective Time.

Appointed

Matthew R. Bob

Director

APA · APA Corp

Effective: 2024-04-01
Filed: April 1, 2024, 7:59 PM ET

the Board appointed Matthew R. Bob, the former chair of the board of directors of Callon, as a member of the Board, effective immediately following the Effective Time.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Anya Weaving was appointed as Director at APA Corp.

Action: appointed
Role: Director

Exact text from the filing

the Board appointed Anya Weaving as a member of the Board, effective immediately following the Effective Time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew R. Bob was appointed as Director at APA Corp.

Action: appointed
Role: Director

Exact text from the filing

the Board appointed Matthew R. Bob, the former chair of the board of directors of Callon, as a member of the Board, effective immediately following the Effective Time.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

APA Corp completed an acquisition involving Callon Petroleum Company (closed 2024-04-01).

Action: acquisition
Counterparty: Callon Petroleum Company
Closing: 2024-04-01

Exact text from the filing

On April 1, 2024, APA completed its previously announced acquisition of Callon, in connection with the merger of Astro Comet Merger Sub Corp., a Delaware corporation and a wholly owned subsidiary of APA (“Merger Sub”), with and into Callon (the “Merger”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

APA Corp entered into Amended and Restated Warrant Agreement with American Stock Transfer and Trust Company, LLC (effective 2024-04-01).

Action: entry
Counterparty: American Stock Transfer and Trust Company, LLC
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, upon consummation of the Merger (as defined and described in further detail below), APA Corporation, a Delaware corporation (“APA”), entered into an Amended and Restated Warrant Agreement (the “Warrant Agreement”) with American Stock Transfer and Trust Company, LLC (“AST”), as warrant agent, and, solely with respect to certain provisions therein, Callon Petroleum Company, a Delaware corporation (“Callon”), to, among other things, establish warrants that have terms that are substantially similar to the warrants that were issued by Callon on December 20, 2019 (the “Callon Warrants”).

View on SEC.gov

91 m&a transactions filed in the last 30 days. Browse all m&a transactions →

APA Corp filing history →

Source: SEC EDGAR

accession 0001193125-24-083563

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