Contango Oil & Gas Company

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Officer Changes, Exchange Changes, Mergers / Acquisitions

Press Release - Independence Energy To Combine With Contango In All-Stock Merger To Create A Premier U.S. Independent Oil And Gas Company

Published: 06/08/2021 11:45 GMT
Contango Oil & Gas Company (MCF) - Press Release - Independence Energy to Combine With Contango in All-stock Merger to Create a Premier U.S. Independent Oil and Gas Company.
Contango Oil & Gas - Combined Co Will Have an Initial Equity Market Capitalization of Approximately $4.8 Billion and Enterprise Value of About $5.7 Billion.
Contango Oil & Gas - Independence Will Merge With an Operating Subsidiary ("opco") of a New Parent Company.
Contango Oil & Gas - Contango Will Become a Wholly Owned Subsidiary of Opco.
Contango Oil & Gas - New Company at Closing Will Have an "up-c" Structure.
Contango Oil & Gas - Contango Shareholders Will Receive Class A Common Stock Representing Voting and Economic Rights in New Parent Company.
Contango Oil & Gas - Upon Completion of Deal, Independence Shareholders Will Own About 76% & Contango Shareholders Will Own About 24% of Combined Co.
Contango Oil & Gas - Combined Company Intends to Seek to Be Listed on New York Stock Exchange.
Contango Oil & Gas - Combined Company Will Be Headquartered in Houston and Expects to Operate Under a New Name and Under a New Ticker Symbol.
Contango Oil & Gas - Kkr Will Receive a Special Class of Non-economic Preferred Stock.
Contango Oil & Gas - Upon Completion of Merger, Kkr's Balance Sheet Will Own Approximately 17 Percent of Combined Company.
Contango Oil & Gas - Combined Business Will Be Managed by Kkr's Energy Real Assets Team, Led by David Rockecharlie, Who Will Serve As Ceo.