http://www.gulfislandskayaking.com/pr02.html
The Houston-based offshore energy compangy plans to offer 20 million shares in Cal Dive througjh a public offeringat $8.50 per with an option for underwriters to purchase an additionapl 3 million shares to covet over-allotments. Helix (NYSE: HLX) also has agreefd to sell Cal Dive anadditional $14 millionj worth of shares at a price equal to the Houston-based Cal Dive (NYSE: DVR) has 94 millionb shares outstanding. When the offering closes and Cal Dive repurchaseesits allocation, Helix’s ownershipl in Cal Dive will be reduced to 25 percent from 51 according to a regulatory filing with the . If the over-allotmenyt option is not exercised, Helix’ ownership will be 28 percent.
Helix expects to use the proceedzs for generalcorporate purposes. Helix sharea closed at $11.25 on Fridahy and were tradingat $11.92 mid-morning Monday, whiled Cal Dive shares closesd Friday at $10.09 and were trading at $9.85 mid-morning on Monday.
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