Chesapeake Energy issues shares for 2.25% contingent convertibles

By Jennifer Chiou

New York, Oct. 13 - Chesapeake Energy Corp. entered into numerous transactions under which it issued shares to holders in exchange for their 2.25% contingent convertible senior notes due 2038, according to an 8-K filing with the Securities and Exchange Commission.

The Oklahoma City-based oil and gas exploration and production company said that the transactions, all unsolicited, included the following:

• Effective Aug. 6, the company issued 142,000 shares in exchange for $5 million of the 2.25% notes;

• Also effective Aug. 6, the company issued 959,551 shares in exchange for $33,787,000 of the 2.25% notes;

• Effective Aug. 7, the company issued 938,578 shares in exchange for $33,224,000 of the 2.25% notes;

• Effective Sept. 10, the company issued 238,597 shares in exchange for $8,431,000 of the 2.25% notes;

• Effective Sept. 15, the company issued 366,520 shares in exchange for $14 million of the 2.25% notes;

• Also effective Sept. 15, the company issued 185,747 shares in exchange for $7,095,000 of the 2.25% notes;

• Effective Sept. 16, the company issued 1,345,678 shares in exchange for $51,401,000 of the 2.25% notes;

• Effective Sept. 29, the company issued 62,852 shares in exchange for $2,315,000 of the 2.25% notes; and

• Effective Oct. 16, the company issued 3,439,996 shares in exchange for $122,857,000 of the 2.25% notes.

The acquired notes were canceled.

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