Occidental Announces Results of Offer to Exercise Warrants at a Temporarily Reduced Price

Core Viewpoint - Occidental Petroleum Corporation announced the results of its warrant exercise offer, which expired on March 31, 2025, at a reduced price of $21.30 per warrant [1][2]. Group 1: Warrant Exercise Results - A total of 41,941,075 warrants were tendered, resulting in the issuance of 41,871,909 shares of common stock and generating$891.9 million in proceeds [2]. - If all guaranteed deliveries are completed, an additional 69,166 shares will be issued, bringing in an extra $1.5 million [2]. - The remaining warrants not exercised will continue to be valid at an exercise price of$22.00 per warrant [2]. Group 2: Company Overview - Occidental is a major international energy company with significant assets in the U.S., Middle East, and North Africa, and is one of the largest oil and gas producers in the U.S. [4]. - The company operates in various segments, including midstream and marketing, and is focused on advancing technologies for carbon management through its Oxy Low Carbon Ventures subsidiary [4].