Superior Well Services Sells More Common Stock
Superior Well Services, Inc. on Wednesday announced the sale of an additional 690,000 shares of its common stock in connection with the exercise by the underwriters in its follow-on common stock offering of their option to purchase additional shares to cover over-allotments.
The purchase price of $25.50 per share was identical to the purchase price per share of the common stock sold in Superior's follow-on stock offering of 4,600,000 shares, which closed on December 12, 2006. Net proceeds to Superior from the sale of the additional 690,000 shares was approximately $16.7 million, substantially all of which will be used to repay outstanding indebtedness and to purchase additional oilfield service equipment. KeyBanc Capital Markets was the lead manager of the offering. A.G. Edwards, RBC Capital Markets, Simmons & Company International and Johnson Rice & Company L.L.C. acted as co-managers.
Superior Well Services, Inc. is an oilfield services company operating in many of the major oil and natural gas producing regions of the United States.
- Nabors Completes Tender Offer for Superior Well Services (Sep 09)
- Nabors, Superior Well Report Expiration of HSR Waiting Period (Sep 01)
- Nabors to Acquire Superior Well in $900MM Deal (Aug 09)