65 m shares $2.40/sh = $156M .... how come the news said == quote
to offer, in a private placement, up to $400,000,000 aggregate principal amount of senior notes due 2021. Hercules Offshore expects to use the net proceeds from the offering, together with cash on hand (including the proceeds of approximately $104 million it expects to receive from the sales of its inland barge rigs, domestic liftboats and related assets), to fund its acquisitions of shares of Discovery Offshore S.A. and the final payment of $333.9 million due for Discovery Triumph and Discovery Resilience.
I figured out now, $333.9M is final payment dues to the shipyard.
So, it is all paid off, what is the day rate for new high specification rigs, tofu? We might have big profit "IF" the $400M notes interest is lower. Maintenance of a new rig is zip low anyway. EPS increases by ???