Chesapeake takes next step after post-bankruptcy emergence

 

Oklahoma City’s Chesapeake Energy took further steps this week to shore up its economics after emerging earlier in the month from Chapter 11 bankruptcy in a Houston, Texas federal courtroom.

The company filed a Form S-8 with the Securities and Exchange Commission in which it registered 6,800,000 shares of common stock valued at a penny each. The shares fall under the terms of the 2021 Long Term Incentive Plan filed by Chesapeake.

The filing indicated the proposed maximum offering price would be $42.53 per share. The proposed maximum aggregate offering price would be $289,170,000. The cost of filing the Form S-8 was $31,552.16.

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