Finance History|Nasdaq MarketSite — CHK Stopped and EXE Opened
· 2024-10
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Finance History|Nasdaq MarketSite — CHK Stopped and EXE Opened
kevin
People treat Expand Energy as an Oklahoma City gas producer that always printed EXE after a finished Haynesville and Appalachia book.
The October 2024 issuer was Chesapeake Energy Corporation, an Oklahoma company, completing an all-stock merger with Southwestern Energy Company.
The 1 October 2024 Form 8-K records the close. Hulk Merger Sub merged into Southwestern, which survived as a Chesapeake subsidiary. The parent then changed its name to Expand Energy Corporation.
Each Southwestern common share converted into 0.0867 Expand Energy common shares. No fractional shares were issued. Cash was paid in lieu.
The same 8-K states that the Nasdaq ticker would change from CHK to EXE and that public trading as EXE would begin at the open on 2 October 2024. CHK printed through 1 October 2024. SWN left the New York tape with the close of the deal.
Later company filings record that about 95.7 million new common shares were issued to Southwestern holders.
The mechanism is a merger listing, not a cash IPO. Two gas books became one share. The ticker is new. The wells were not.
Nasdaq MarketSite at 4 Times Square is the public facade for that tape. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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