nice /// /// // /// /// /// /// ///
"general corporate purposes"
Update on September 24, 2009:
Hercules Offshore, Inc., a US-based provider of shallow-water drilling and marine services to the oil and gas exploration and production industry, has priced an underwritten public offering of 17.5 million shares of common stock at a price of $5 per share to raise gross proceeds of $87.5 million.
The company has also granted the underwriters a 30-day option to purchase up to 2.625 million additional shares to cover over-allotments, if any. The offering is expected to close on September 30, 2009.
Announcement (September 23, 2009):
Hercules is planning to issue up to 17.5 million shares of its common stock in a public offering.
Hercules will grant the underwriters an option to purchase up to 2.625 million additional shares of common stock to cover over-allotments.
Morgan Stanley & Co., Incorporated and UBS Securities LLC are acting as joint book running managers for the offering. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities, Inc., FBR Capital Markets & Co., Inc., Goldman, Sachs & Co., Jefferies & Company, Inc., Pritchard Capital Partners, LLC, Raymond James & Associates, Inc., and Tudor, Pickering, Holt & Co., Securities, Inc. are acting as underwriters for the offering.
Deal Value (US$ Million) 87.5
Deal Type IPO
Sub-Category Secondary Offering
Deal Status Announced: 2009-09-23
Deal Participants
Target (Company) Hercules Offshore, Inc.
Deal Rationale
The net proceeds of the transaction will be used to repay debt and for general corporate purposes.
Offer Price ($ per share) 5
No. Shares Issued 17500000
AI
