CARBON NATURAL GAS COMPANY (OTCMKTS:CRBO) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03
|
Material Modification to Rights of Security Holders. |
To the extent required by Item 3.03 of Form 8-K, the information
contained in Item 5.03 of this report is incorporated herein by
reference.
| Item 5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On February 22, 2017, Carbon Natural Gas Company, a Delaware
corporation (the Company), filed with
the office of the Secretary of State of the State of Delaware, a
Certificate of Amendment (the Certificate of
Amendment) to amend the Companys Amended and
Restated Certificate of Incorporation, as amended, to effect a
one for twenty reverse stock split of the Companys issued and
outstanding common stock, par value $0.01 per share (the
Reverse Stock Split). The Certificate
of Amendment did not change the par value of the Companys common
stock, nor did it reduce the number of shares of Common Stock
that the Company is authorized to issue.
The Certificate of Amendment became effective on March 15, 2017,
at which time every twenty shares of the Companys issued and
outstanding common stock were automatically combined into one
issued and outstanding share of the Companys common stock. No
fractional shares were issued in connection with the Reverse
Stock Split, and any fractional shares resulting from the Reverse
Stock Split were rounded up to the nearest whole share.
Continental Stock Transfer Trust Company, the Companys transfer
agent, will act as the exchange agent for the Reverse Stock Split
and will send instructions to stockholders of record regarding
the voluntary exchange of certificates.
Trading markets will reflect the Reverse Stock Split on March 17,
2017.
The foregoing description of the Certificate of Amendment does
not purport to be complete and is qualified in its entirety by
reference to the full text of the Certificate of Amendment, which
is filed as Exhibit 3.1 to this report and is incorporated by
reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
|
ExhibitNo. |
Description |
|
| 3.1* |
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Carbon Natural Gas Company, effective as of March 15, 2017 |
* Filed herewith
About CARBON NATURAL GAS COMPANY (OTCMKTS:CRBO)
Carbon Natural Gas Company (Carbon) is a holding company. The Company owns and operates oil and natural gas and oil interests in the Appalachian and Illinois Basins of the United States. The Company produces and sells oil, natural gas, natural gas condensate and natural gas liquids. Carbon conducts its oil and natural gas operations through Nytis LLC. Carbon’s oil and gas properties are located in Illinois, Indiana, Kentucky, Ohio, Tennessee and West Virginia. Nytis LLC owns working interests in approximately 850 gross wells (over 570 net) and royalty interests located in Kentucky, Ohio, Tennessee and West Virginia, and has leasehold positions in approximately 17,000 net developed acres and over 184,800 net undeveloped acres. Nytis LLC owns working interests in approximately 60 gross (over 30 net) coalbed methane wells in the Illinois Basin, and has a leasehold position in approximately 1,700 net developed acres and over 66,700 net undeveloped acres. CARBON NATURAL GAS COMPANY (OTCMKTS:CRBO) Recent Trading Information
CARBON NATURAL GAS COMPANY (OTCMKTS:CRBO) closed its last trading session 00.000 at 0.530 with 1,000 shares trading hands.
