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Basic Energy Services, Inc. Message Board

  • eagledragon1 eagledragon1 Jun 9, 2014 10:37 PM Flag

    6,900,000 shares to be unloaded

    "FORT WORTH, Texas, June 9, 2014 /PRNewswire/ -- Basic Energy Services, Inc. (BAS) ("Basic") today announced the commencement of a secondary public offering of 6,000,000 shares of common stock on behalf of DLJ Merchant Banking Partners III, L.P. and related funds (the "Selling Stockholders"). Goldman, Sachs & Co. will act as underwriter for the offering. Goldman, Sachs & Co. is expected to be granted a 30-day option to purchase up to 900,000 additional shares from the Selling Stockholders.

    Basic will not receive any proceeds from the sale of the shares of common stock by the Selling Stockholders in this offering. The offering will be made pursuant to a shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission ("SEC") on April 11, 2012 and declared effective on April 17, 2012."

    Someone must think upside is limited...

    Sentiment: Strong Sell

8.80-0.08(-0.90%)May 22 4:00 PMEDT