Hercules Offshore Prices Public Offering

Hercules Offshore has priced an underwritten public offering of 17,500,000 shares of common stock at a public offering price of $5.00 per share. The offering is expected to close on September 30, 2009. The Company has also granted the underwriters a 30-day option to purchase up to 2,625,000 additional shares to cover over-allotments, if any.

The Company intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' over-allotment option, to repay indebtedness outstanding under the Company's term loan facility and for general corporate purposes, which may in the future include repaying indebtedness, among other things. Morgan Stanley & Co. Incorporated and UBS Investment Bank are serving as Joint Bookrunning Managers of the offering.
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours