Atwood Oceanics Announces Closing of Public Offering of Common Stock
October 19 2004 - 4:47PM
PR Newswire (US)
Atwood Oceanics Announces Closing of Public Offering of Common
Stock HOUSTON, Oct. 19 /PRNewswire-FirstCall/ -- Atwood Oceanics,
Inc. (NYSE:ATW) (Houston-based International Offshore Drilling
Contractor) announced today the closing of its underwritten public
offering of 2,175,000 shares of common stock pursuant to effective
shelf registration statements on Form S-3 (File Nos. 333-92388 and
333-117534) previously filed with the Securities and Exchange
Commission. The offering includes 1,175,000 shares of common stock
to be sold by Atwood and 1,000,000 shares of common stock to be
sold by Helmerich & Payne International Drilling Co., as
selling stockholder. The underwriters have the option to purchase
up to 325,000 additional shares of common stock to cover
over-allotments, if any. The underwriting agreement provides that
the shares of common stock sold in the offering will be priced at
$48.50 per share, less the underwriters discount of $2.67 per
share, for net proceeds before expenses of $45.83 per share. Atwood
intends to use the net proceeds from the offering to repay a
portion of the outstanding indebtedness under its existing credit
facility. Atwood will not receive any proceeds from the sale of
common stock by the selling stockholder. Goldman, Sachs & Co.
acted as sole book-runner and joint manager with Credit Suisse
First Boston LLC. Jefferies & Company, Inc., Raymond James
& Associates, Inc. and Stifel, Nicolaus & Company,
Incorporated served as co- managers. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of the
prospectus supplement and related base prospectus. Statements
contained in this release with respect to the future are
forward-looking statements. These statements reflect management's
reasonable judgment with respect to future events. Forward-looking
statements involve risks and uncertainties. Actual results could
differ materially from those anticipated as a result of various
factors: the Company's dependence on the oil and gas industry; the
risks involved in upgrade to and repair of the Company's rigs;
competition; operating risks; risks involved in foreign operations;
risks associated with possible disruptions in operations due to
terrorism; and governmental regulations and environmental matters.
A list of additional risk factors can be found in the Company's
Annual Report on Form 10-K, as amended, for the year ended
September 30, 2003, the final prospectus supplement, preliminary
prospectus supplement, and base prospectus, as filed with the
Securities and Exchange Commission. DATASOURCE: Atwood Oceanics,
Inc. CONTACT: Jim Holland of Atwood Oceanics, Inc., +1-281-749-7804
Web site: http://www.atwd.com/
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