Calpine "when issued" quotes on Yahoo
finance.yahoo.com
Warrants
>> Exercise price: $23.88
Expire date: 25 August 2008
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Pretty far out of the money and not much time left. The warrants are a real long shoit, IMHO.
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Calpine Provides Additional Information Regarding Distributions
Monday February 4, 3:23 pm ET
biz.yahoo.com
SAN JOSE, Calif. and HOUSTON, Feb. 4 /PRNewswire-FirstCall/ -- Calpine Corporation (NYSE: CPN-WI - News), as previously announced, has successfully emerged from Chapter 11 bankruptcy protection and has begun distribution of its new common stock to holders of allowed unsecured claims. Distributions of the new common stock are ongoing. Calpine anticipates distributing approximately 423 million shares of the new common stock to holders of allowed unsecured claims in the initial phase of distributions. Calpine is providing detailed information with respect to the anticipated amount of the initial distribution to various classes of allowed unsecured claims on our website at: calpine.com
Of the 485 million shares of new common stock intended to be distributed under Calpine's Sixth Amended Joint Plan of Reorganization, Calpine reserved approximately 62 million shares on account of disputed unsecured claims and general contingencies. Pursuant to the terms of the Plan, with respect to each disputed unsecured claim, Calpine was required to reserve the lesser number of shares necessary to satisfy the claim based upon:
-- The asserted amount of the claim (or if the claim is contingent or
unliquidated, the amount Calpine, in consultation with the creditors'
committee, elected to reserve);
-- An amount estimated by the Bankruptcy Court; or
-- An amount agreed upon by the holder of the claim and Calpine.
Further details regarding the formula used to determine the number of shares reserved for disputed unsecured claims is contained in the Plan, which is available on Calpine's website.
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit calpine.com for more information. |
