THE WOODLANDS, Texas,
Dec. 9, 2016 /PRNewswire/ -- TETRA
Technologies, Inc. (NYSE:TTI) (TETRA or the Company) today
announced that it has commenced an underwritten public offering of
approximately 15,000,000 shares of its common stock and warrants to
acquire 7,500,000 shares of its common stock. J.P. Morgan and Wells
Fargo Securities are acting as the bookrunning managers for the
offering. TETRA also expects to grant the underwriters a 30-day
option to purchase up to an additional 2,250,000 shares of common
stock from the Company and warrants to acquire an additional
1,125,000 shares of common stock.
The Company expects to use the net proceeds from the offering to
repay outstanding indebtedness and for general corporate
purposes.
This offering is being conducted pursuant to the Company's
currently effective shelf registration statement, which was
previously filed with the Securities and Exchange Commission. A
preliminary prospectus supplement and accompanying base prospectus
related to the public offering have been filed with the Securities
and Exchange Commission. Copies of the preliminary prospectus
supplement and accompanying base prospectus, when available, may be
obtained from J.P. Morgan via Broadridge Financial Solutions 1155
Long Island Avenue Edgewood, New
York, 11717 or by calling (866) 803-9204 or from Wells Fargo
Securities, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152,
or by calling (800) 326-5897 or cmclientsupport@wellsfargo.com.
You may also obtain these documents for free when they are
available by visiting the SEC's web site at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which the offer, solicitation or sale of these securities would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Company Overview and Forward Looking Statements
TETRA is a geographically diversified oil and gas services
company, focused on completion fluids and associated products and
services, water management, frac flowback, production well testing,
offshore rig cooling, compression services and equipment, and
selected offshore services including well plugging and abandonment,
decommissioning, and diving. TETRA owns an equity interest,
including all of the general partner interest, in CSI Compressco LP
(NASDAQ:CCLP), a master limited partnership.
This press release includes certain statements that are deemed
to be forward-looking statements. Generally, the use of words such
as "may," "expect," "intend," "estimate," "projects," "anticipate,"
"believe," "could," "should," or similar expressions that convey
the uncertainty of future events, activities, expectations or
outcomes identify forward-looking statements that the Company
intends to be included within the safe harbor protections provided
by the federal securities laws. These forward-looking statements
include statements concerning expected results or projections
concerning the Company's business activities, financial guidance,
estimated earnings, earnings per share, and statements regarding
the Company's beliefs, expectations, plans, goals, future events
and performance, and other statements that are not purely
historical. These forward-looking statements are based on certain
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions, expected future developments and other factors it
believes are appropriate in the circumstances. Such statements are
subject to a number of risks and uncertainties, many of which are
beyond the control of the Company. Investors are cautioned that any
such statements are not guarantees of future performances or
results and that actual results or developments may differ
materially from those projected in the forward-looking statements.
Some of the factors that could affect actual results are described
in the section titled "Risk Factors" contained in the Company's
Annual Report on Form 10-K for the year ended December 31, 2015, as well as other risks
identified from time to time in its reports on Form 10-Q and Form
8-K filed with the Securities and Exchange Commission.
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SOURCE TETRA Technologies, Inc.