Callon, Carrizo Amend Merger Agreement - Quick Facts

(RTTNews) - Callon Petroleum Company (CPE) and Carrizo Oil & Gas, Inc. (CRZO) announced an amendment to their merger agreement. Under the amended terms, Carrizo shareholders will receive 1.75 shares of Callon common stock for each share of Carrizo common stock they own. Callon shareholders will own approximately 58% of the combined company and Carrizo shareholders will own approximately 42% on a fully diluted basis. The amendment adjusts the Carrizo termination fee to $20 million. The companies continue to expect to close the deal during the fourth quarter of 2019.

Callon intends to reconvene its Special Meeting of Shareholders on December 13, 2019, and readjourn until December 20, 2019. Carrizo intends to reconvene its Special Meeting on December 20, 2019.