Halcon Resources Announces Reverse Stock Split

Published on Thursday, 09 February 2012 10:08 Written by TradersHuddle Staff

HOUSTON, TEXAS, Feb. 9, 2012 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NASDAQ: HK), ("Halcón Resources" or "Company") today announced that a one-for-three (1:3) reverse stock split of Halcón Resources common stock, previously approved by stockholders, will be effective on February 10, 2012. The reverse stock was approved in connection with Halcon Resources, LLC’s $550 million investment in the Company and is intended to provide a stock price that is more attractive and suitable to a broader range of potential investors.

When the reverse stock split becomes effective, every three shares of issued and outstanding Halcón Resources common stock will automatically be converted into one share of common stock. Fractional shares will be rounded up to a full share of common stock. The reverse stock split will not impact any stockholder’s percentage ownership of the Company or voting power, except for minimal effects resulting from the treatment of fractional shares. Following the reverse split, the number of outstanding shares of the Company’s common stock, and the number of shares of common stock the Company is authorized to issue under its certificate of incorporation, will be reduced by a factor of three. 

About Halcón Resources

Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

CONTACT: Scott M. Zuehlke
         Director of Investor Relations
         Halcon Resources
         (832) 538-0314