MISSION WOODS, Kan. (AP) - Layne Christensen Co. said Thursday it filed with
the Securities and Exchange Commission to sell up to $172.5 million of its
common shares, including over-allotments, if any.
Layne intends to use proceeds from the proposed public offering to reduce
the outstanding balance on its credit facility and for general corporate
purposes, as well as funding for possible acquisitions.
UBS Investment Bank and Merrill Lynch & Co. will be the joint book-running
managers for the proposed offering. J.P. Morgan Securities Inc., Morgan Joseph &
Co. Inc., D.A. Davidson & Co. and BMO Capital Markets Corp. will serve as
co-managers.
The company, which provides drilling and construction services to water,
wastewater and mineral exploration markets, has about 16 million shares
outstanding.
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