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Chesapeake Energy Corp. | 4.50% Cumulative Convertible Preferred Stock (CHK.PRD)
Prospectus excerpt: We are offering 3,000,000 shares of 4.50% cumulative convertible preferred stock. The annual dividend on each share of preferred stock is $4.50 and is payable quarterly in cash, common stock or a combination thereof, in arrears, on each March 15, June 15, September 15 and December 15, commencing December 15, 2005. Each share of preferred stock has an initial liquidation preference of $100.00 per share and is convertible, at the holderĘs option at any time, initially into approximately 2.2639 shares of our common stock based on an initial conversion price of $44.172 per share, subject in each case to specified adjustments. The conversion price will be adjusted as described herein upon the occurrence of certain change of control transactions and other events. The preferred stock is not redeemable by us at any time. In the event that a fundamental change occurs, we will pay a make-whole premium on preferred stock converted in connection therewith, as described in this prospectus supplement. On or after September 15, 2010, if the closing price of our common stock exceeds 130% of the conversion price for 20 trading days during any consecutive 30 trading day period, we may at our option cause the preferred stock to be automatically converted into shares of common stock at the then prevailing conversion price. Full Prospectus PDF », CHK Page »
Alternate symbology: | CHK-D, CHK-PD, CHKprD | Redeemable?: | No | Call Date: | 9/15/2010 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Conversion Ratio: | 2.2639 | Conversion Price: | $44.17 | Shares Offered: | 3,000,000 | Overallotment: | 450,000 | Liquidation Preference: | $100 | Original Coupon: | 4.50% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
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Chesapeake Energy is a holding company. Through its subsidiaries, Co. is an independent exploration and production company engaged in the acquisition, exploration and development of properties to produce oil, natural gas and natural gas liquids from underground reservoirs. Co. owns a portfolio of onshore U.S. unconventional natural gas and liquids assets, including interests in several oil and natural gas wells. Co.'s portfolio is focused on three operating areas including the natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana and in the Eagle Ford Shale in South Texas. Preferred: CHKLQ Open the CHK Information Page »
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