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The conversion rate is based upon the volume-weighted average price per
share of the Company’s common stock over the 20 consecutive trading day
period beginning on, and including,
In connection with the offering of the depositary shares in 2016, the Company entered into capped call transactions to reduce the potential dilution to the Company’s common stock upon conversion of the Preferred Stock, subject to a cap. The Company expects to receive approximately 945,000 shares of common stock upon settlement of the capped calls, which will reduce the net number of shares to be issued by the Company upon conversion of the Preferred Stock to approximately 11.6 million shares of the Company’s common stock.
As previously announced, on
Cautionary Statements
This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the Company’s current views with
respect to future events and financial performance. No assurances can be
given, however, that these events will occur or that these projections
will be achieved, and actual results could differ materially from those
projected as a result of certain risk factors. A discussion of these
risk factors is included in the Company’s periodic reports filed with
the
View source version on businesswire.com: https://www.businesswire.com/news/home/20190130005889/en/
Source:
For Hess Corporation
Investor Contact:
Jay
Wilson
(212) 536-8940
Media Contact:
Lorrie
Hecker
(212) 536-8250
lhecker@hess.com