KOSMOS ENERGY LTD. (NYSE:KOS) Files An 8-K Entry into a Material Definitive Agreement

KOSMOS ENERGY LTD. (NYSE:KOS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

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Underwriting Agreement

On November 26, 2018, Kosmos Energy Ltd. (the “Company”), in connection with a registered underwritten public offering of its common shares (the “Offering”), entered into an underwriting agreement (the “Underwriting Agreement”) with funds affiliated with Warburg Pincus LLC ( “Warburg”) and Barclays Capital Inc. (the “Underwriter”), to which Warburg agreed to sell to the Underwriter an aggregate of 15,000,000 common shares. In addition, to the Underwriting Agreement, the Underwriter was granted an option, exercisable within 30 days, to purchase up to an additional 2,250,000 common shares on the same terms and conditions (the “Option”). On November 27, 2018, the Underwriter notified the Company and Warburg that it was exercising the Option in full. The Company will not receive any proceeds from the sale of the common shares by Warburg.

A copy of the Underwriting Agreement is contained in Exhibit1.1 hereto, which exhibit is incorporated by reference into this Item 1.01. The above description of the Underwriting Agreement is qualified in its entirety by reference to such exhibit.

A copy of the Underwriting Agreement has been included to provide security holders with information regarding its terms. It is not intended to provide any other factual information about the Company or Warburg. The representations, warranties and covenants contained in the Underwriting Agreement were made solely for purposes of the Offering and as of specific dates, were solely for the benefit of the parties to the Underwriting Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Underwriting Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to security holders. Security holders are not third-party beneficiaries under the Underwriting Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Underwriting Agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures.

Share Repurchase Agreement

In connection with the Offering, the Company agreed to repurchase from Warburg, in a privately negotiated transaction, 35,000,000 shares of its common shares, at a price equal to the price per share at which the Underwriter purchased shares from Warburg in the Offering (the “Share Repurchase”). The Share Repurchase will close on November 29, 2018. A copy of the agreement for the Share Repurchase (the “Share Repurchase Agreement”) is contained in Exhibit 1.2. The above description of the Share Repurchase Agreement is qualified in its entirety by reference to such exhibit.

Item 8.01. Other Events.

The Offering is expected to close on the date hereof subject to customary closing conditions. In connection with the Offering, the Company is filing the opinion of Conyers Dill & Pearman Limited as part of this Current Report on Form 8-K. The opinion of Conyers Dill & Pearman Limited (including the consent of Conyers Dill & Pearman Limited) is contained in Exhibit 5.1 hereto, which exhibit is incorporated by reference into this Item 8.01.

Item 9.01. Financial Statements and Other Exhibits.

(d) Exhibits


Kosmos Energy Ltd. Exhibit
EX-1.1 2 dp98768_ex0101.htm EXHIBIT 1.1 Exhibit 1.1   15,…
To view the full exhibit click here

About KOSMOS ENERGY LTD. (NYSE:KOS)

Kosmos Energy Ltd. (Kosmos) is a holding company. The Company is an independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. The Company operates in the exploration and production of oil and natural gas segment. The Company’s assets include existing production and development projects offshore Ghana, large discoveries offshore Mauritania and Senegal, as well as exploration licenses with hydrocarbon potential offshore Portugal, Sao Tome and Principe, Suriname, Morocco and Western Sahara. The Company has operations in Africa, Europe and South America. Its discoveries in Ghana include Jubilee Field, TEN, Mahogany, Teak, Akasa and Wawa. The Company’s other discoveries in Mauritania include Ahmeyim and Marsouin, and Senegal include Guembeul. The Company’s West Cape Three Points (WCTP) Block and Deepwater Tano (DT) Block are located within the Tano Basin, offshore Ghana.

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