HOUSTON, Aug. 29, 2014 /PRNewswire/ -- Independence
Contract Drilling, Inc. (NYSE: ICD), announced today that it has
closed today the issuance of 1,500,000 shares of common stock at
$11.00 per share pursuant to the full
exercise of the option to purchase additional shares of common
stock granted to the underwriters in connection with ICD's recent
initial public offering of 10,000,000 shares. ICD's initial
public offering of 10,000,000 shares of common stock closed on
August 13, 2014. The shares
trade on the New York Stock Exchange under the ticker symbol
"ICD."
Morgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt
& Co. are acting as book-running managers for the offering.
Canaccord Genuity, Capital One Securities, Cowen and Company, FBR,
IBERIA Capital Partners L.L.C. and Johnson
Rice & Company L.L.C. acted as co-managers. The offering
was made only by means of a prospectus. Potential investors
can obtain a prospectus that meets the requirements of Section 10
of the Securities Act of 1933 from:
Morgan Stanley & Co. LLC
Attn: Prospectus
Department
180 Varick Street, 2nd Floor
New York, NY 10014
RBC Capital Markets, LLC
Attn: Prospectus
Department
Three World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281
Telephone: (877) 822-4089
Tudor, Pickering, Holt & Co. Securities,
Inc.
Attn: Prospectus Department
Heritage Plaza
1111 Bagby, Suite 5100
Houston, TX 77002
Telephone: (713) 333-7100
To obtain a copy of the prospectus free of charge, visit the
U.S. Securities and Exchange Commission's website, www.sec.gov, and
search under the registrant's name, "Independence Contract
Drilling, Inc."
About Independence Contract Drilling
Independence Contract Drilling was formed in November 2011 and provides land-based contract
drilling services for oil and natural gas producers in the United States.
Investor Contacts:
Investor
Relations
investor.relations@icdrilling.com
(281)
598-1211
A registration statement relating to these securities has
been filed with, and declared effective by, the SEC. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements
within the meaning of the federal securities laws. Words such as
"anticipated," "estimated," "expected," "planned," "scheduled,"
"targeted," "believes," "intends," "objectives," "projects,"
"strategies" and similar expressions are used to identify such
forward-looking statements. However, the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements relating to Independence Contract
Drilling's operations are based on a number of expectations or
assumptions which have been used to develop such information and
statements but which may prove to be incorrect, including, but not
limited to the assumption that the market and services rates for
land-based contract drilling services will be consistent with the
current environment. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions that are difficult to predict, and there can be no
assurance that actual outcomes and results will not differ
materially from those expected by management of Independence
Contract Drilling. For more information concerning factors that
could cause actual results to differ materially from those conveyed
in the forward-looking statements, please refer to the "Risk
Factors" section of the registration statement on Form S-1
initially filed by Independence Contract Drilling on June 19, 2014 with the SEC and the information
included in subsequent amendments and other filings. These
forward-looking statements are based on and include our
expectations as of the date hereof. Independence Contract Drilling
does not undertake any obligation to update or revise such
forward-looking statements to reflect events or circumstances that
occur, or which Independence Contract Drilling becomes aware of,
after the date hereof.
SOURCE Independence Contract Drilling, Inc.