HAMILTON, Bermuda, June 8, 2018 /PRNewswire/ -- Nabors Industries
Ltd. (NYSE:NBR) ("Nabors") announced today that, in
connection with its recently completed offering of 35,000,000 of
its common shares at a price to the public of $7.75 per share, the underwriters have exercised
in full their option to purchase 5,250,000 additional common
shares, par value $0.001 per share
(the "Additional Shares").
Nabors will receive additional aggregate gross proceeds of
$39,427,500 from the exercise of the
option to purchase Additional Shares. Closing of the offering of
Additional Shares is expected to occur on June 11, 2018.
Morgan Stanley & Co. LLC ("Morgan Stanley") and Citigroup
Global Markets Inc. ("Citi") acted as book running managers for the
offering.
The Additional Shares were offered only by means of a base
prospectus and prospectus supplement, which are part of Nabors'
effective shelf registration statement previously filed by Nabors
with the Securities and Exchange Commission ("SEC"). Copies
of the prospectus supplement and the accompanying base prospectus
may be obtained at the SEC's website at http://www.sec.gov, from
Morgan Stanley at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus
Department or by calling 1-866-718-1649 or by e-mail at
prospectus@morganstanley.com or from Citigroup at c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling
800-831-9146.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Additional Shares, nor shall
there be any offer, solicitation or sale of any Additional Shares
in any jurisdiction in which such offer, solicitation or sale would
be unlawful. Any offer or sale will be made only by means of
Nabors' prospectus supplement and the base prospectus forming part
of the effective registration statement relating to the Additional
Shares.
Statements in this release that are not historical facts are
"forward-looking" statements and "safe harbor statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and/or uncertainties, including those described
in Nabors' public filings with the SEC. Nabors has based
forward-looking statements on management's current expectations and
assumptions and not on historical facts. These forward-looking
statements involve a number of risks and uncertainties. Among the
factors that could cause actual results to differ materially from
those indicated in such forward-looking statements include risks
related to market conditions and the satisfaction of customary
closing conditions related to the offering, as well as risks and
uncertainties associated with Nabors' business and finances in
general. Other factors that could cause actual results to differ
materially from those indicated by the forward-looking statements
include those factors listed under the caption "Risk Factors" in
Nabors' Form 10-Q for the quarter ended March 31, 2018, filed with the SEC on
May 3, 2018, and Form 10-K for the
year ended December 31, 2017, filed
with the SEC on March 1, 2018, as
amended by Amendment No. 1 to Nabors' Annual Report on Form 10-K
filed with the SEC on March 29, 2018,
as well as other filings Nabors makes with the SEC from time to
time. In providing forward-looking statements, Nabors is not
undertaking any duty or obligation to update these statements
publicly as a result of new information, future events or
otherwise, except as required by law. If Nabors updates one or more
forward-looking statements, no inference should be drawn that it
will make additional updates with respect to those other
forward-looking statements.
About Nabors Industries
Nabors Industries (NYSE: NBR) owns and operates one of the
world's largest land-based drilling rig fleets and is a provider of
offshore platform rigs in the United
States and numerous international markets. Nabors also
provides directional drilling services, performance tools, and
innovative technologies for its own rig fleet and those of third
parties. Leveraging our advanced drilling automation
capabilities, Nabors' highly skilled workforce continues to set new
standards for operational excellence and transform our
industry.
Media Contacts
For further information regarding Nabors, please contact
Dennis A. Smith, Vice President of
Corporate Development & Investor Relations, +1 281-775-8038.
To request investor materials, contact Nabors' corporate
headquarters in Hamilton, Bermuda
at +1 441-292-1510 or via email at mark.andrews@nabors.com.
View original
content:http://www.prnewswire.com/news-releases/nabors-announces-exercise-of-underwriters-option-to-purchase-additional-common-shares-300662143.html
SOURCE Nabors Industries Ltd.