Summary by Futu AI
Exxon Mobil Corporation, through its wholly-owned subsidiary Pioneer Natural Resources Company, has issued a Redemption Notice for all outstanding 0.250% Convertible Senior Notes due 2025. The notice, dated May 10, 2024, calls for the redemption of the notes on June 25, 2024, at a price of $1,000.28 per $1,000 principal amount, which includes accrued and unpaid interest. Noteholders have the option to convert their notes into shares of Exxon Mobil common stock at a rate of 25.4503 shares per $1,000 principal amount, equivalent to a conversion price of approximately $39.29 per share, until June 21, 2024. The announcement was made in a Current Report on Form 8-K filed with the SEC, and the redemption process will be facilitated through the Depository Trust Company. This action follows the First Supplemental Indenture dated May 3, 2024, and is detailed in Exhibit 99.1 attached to the report.