Tender Offer - OCCIDENTAL PETROLEUM CORP /DE/

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Form Type: SC TO-I/A

Filing Date: 2025-04-01

Corporate Action: Tender-offer

Type: Update

Accession Number: 000114036125011503

Filing Summary: This document is an Amendment No. 1 to the Tender Offer Statement on Schedule TO, relating to an issuer tender offer by Occidental Petroleum Corporation to the holders of warrants to purchase common stock. The original schedule was filed on March 3, 2025. The amendment announces that the tender offer expired on March 31, 2025, at 5:00 p.m. Eastern Time. A total of 41,941,075 warrants were tendered and not validly withdrawn, resulting in the company issuing 41,871,909 shares of common stock, leading to an aggregate proceeds of $891.9 million from the exercised warrants. If all guaranteed deliveries are completed, the company will additionally issue 69,166 shares for an extra $1.5 million. Warrants not tendered will continue at an exercise price of $22.00.

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Additional details:

Warrant Count Tendered: 41941075

Shares Issued: 41871909

Total Proceeds: 891900000

Additional Shares If Guaranteed Delivered: 69166

Additional Proceeds If Guaranteed Delivered: 1500000

Exercise Price Non Tendered Warrants: 22.00

Form Type: SC TO-I

Filing Date: 2025-03-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000114036125006664

Filing Summary: On March 3, 2025, Occidental Petroleum Corporation announced a tender offer for its outstanding warrants to purchase common stock. The company is offering an exercise price reduction from $22.00 to $21.30 per warrant, applicable to its 74,020,695 outstanding warrants. This offer allows warrant holders to exercise their rights according to the terms and conditions stated in their warrant agreement. There is no minimum participation requirement for this offer, which is classified as an issuer tender offer under Rule 13e-4. Key executives from the company, including CEO Vicki Hollub and other senior vice presidents, are involved in this transaction, with additional details provided in the accompanying documents.

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Additional details:

Warrant Class: Warrants to Purchase Common Stock

Cusip Number: 674599162

Exercise Price Old: 22.00

Exercise Price New: 21.30

Outstanding Warrants: 74020695

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