Corporate ActionJun 5, 2026, 05:16 PM
Devon Energy Files Prospectus for 175,000 Common Shares Conversion
AI Summary
Devon Energy Corporation filed a prospectus supplement on June 5, 2026, registering the issuance of up to 175,000 shares of its common stock. These shares are convertible from Coterra Energy Operating Co.'s 8 1/8% Series A Cumulative Perpetual Convertible Preferred Stock. The conversion terms were established following the merger of Devon's subsidiary with Coterra Energy Inc., and the filing includes a legal opinion on the validity of these shares.
Key Highlights
- Devon Energy filed a prospectus supplement on June 5, 2026.
- Registers issuance of up to 175,000 shares of common stock.
- Shares are issuable upon conversion of Coterra Preferred Stock.
- Coterra Preferred Stock terms were amended following the merger with Coterra Energy Inc.
- Legal opinion attached as Exhibit 5.1 confirms validity of the shares.
Price Impact
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