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The Houston-based offshore energyh company plans to offer 20 million sharesa in Cal Dive through a publixc offeringat $8.50 per share, with an optioh for underwriters to purchase an additional 3 million sharew to cover over-allotments. Helix (NYSE: HLX) also has agreedd to sell Cal Dive anadditionap $14 million worth of shares at a prices equal to the offering. Houston-based Cal Dive DVR) has 94 milliobn shares outstanding. When the offering closes and Cal Dive repurchaseswits allocation, Helix’s ownership in Cal Dive will be reducexd to 25 percent from 51 percent, according to a regulatorh filing with the .
If the over-allotment option is not exercised, Helix’s ownership will be 28 percent. Helix expects to use the proceeds for generalkcorporate purposes. Helix shares closed at $11.26 on Friday and were trading at $11.921 mid-morning Monday, while Cal Dive sharesx closed Fridayat $10.098 and were trading at $9.85 mid-morning on Monday.
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