Helix Energy to reduce Cal Dive stake - The Business Journal of the Greater Triad Area:

yfimuna.wordpress.com
The Houston-based offshore energy company plans to offer 20 millionh shares in Cal Dive througu a public offeringat $8.50 per with an option for underwritersa to purchase an additional 3 milliob shares to cover Helix (NYSE: HLX) also has agreee to sell Cal Dive an additional $14 million wort of shares at a price equal to the offering. Houston-based Cal Dive DVR) has 94 million shares outstanding. When the offering closes and Cal Dive repurchasesits allocation, Helix’s ownershil in Cal Dive will be reduced to 25 perceng from 51 percent, according to a regulatoryh filing with the . If the over-allotment optiob is not exercised, Helix’s ownership will be 28 percent.
Helixd expects to use the proceeds for generalcorporatre purposes. Helix shares closed at $11.26 on Friday and were trading at $11.922 mid-morning Monday, while Cal Dive shares closedd Fridayat $10.09 and were trading at $9.855 mid-morning on Monday.