Hercules Offshore Announces Pricing of Public Offering
12 Avril 2006 - 4:29AM
PR Newswire (US)
HOUSTON, April 11 /PRNewswire-FirstCall/ -- Hercules Offshore, Inc.
today announced the pricing of a public offering of 8,000,000
shares of its common stock at $36 per share. Of the 8,000,000
shares offered, only 1,600,000 shares were offered by Hercules as
newly issued shares of common stock, while the remaining 6,400,000
shares were offered by selling stockholders. Hercules expects to
receive approximately $54.3 million of proceeds from the offering,
net of underwriting fees and estimated expenses. Hercules intends
to use the proceeds to repay debt and for other general corporate
purposes. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050601/DAW092LOGO ) The
offering is expected to close on April 18, 2006, subject to
customary closing conditions. Shares of Hercules common stock are
listed on the NASDAQ National Market under the symbol "HERO." In
addition, the selling stockholders have granted the underwriters an
option to purchase up to an additional 1,200,000 shares currently
held by the selling stockholders to cover over-allotments, if any.
Credit Suisse Securities (USA) LLC and Citigroup Global Markets
Inc. are serving as joint bookrunning managers of the offering.
Copies of the final prospectus related to this offering may be
obtained from the Prospectus Department of Credit Suisse Securities
(USA) LLC, Eleven Madison Avenue, New York, NY 10010-3629, and from
Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities of Hercules, nor shall there be any sales of any
such securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction. Hercules Offshore, based in Houston, Texas,
provides shallow-water drilling and liftboat services to the oil
and natural gas exploration and production industry. The Company
currently owns a fleet of nine jackup rigs that can drill in
maximum water depths ranging from 85 to 250 feet and a fleet of 46
liftboats with leg lengths ranging from 105 to 260 feet. Statements
regarding expected net proceeds, intended uses of proceeds, timing
and other aspects of the offering, as well as any other statements
that are not historical facts in this release, are forward-looking
statements that involve certain risks, uncertainties and
assumptions. These include but are not limited to general market
conditions, market conditions in the financial markets, customary
offering closing conditions and other factors detailed in the
registration statement relating to these securities and Hercules'
filings with the Securities and Exchange Commission. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated.
http://www.newscom.com/cgi-bin/prnh/20050601/DAW092LOGO
http://photoarchive.ap.org/ DATASOURCE: Hercules Offshore, Inc.
CONTACT: Stephen M. Butz, Director of Corporate Development of
Hercules Offshore, Inc., +1-713-979-9832 Web site:
http://www.herculesoffshore.com/
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