THE WOODLANDS, Texas,
Dec. 9, 2016 /PRNewswire/ -- TETRA
Technologies, Inc. (NYSE:TTI) (TETRA or the Company) today
announced that it priced its previously announced underwritten
public offering of 19,400,000 shares of its common stock at
$5.15 per share and warrants to
purchase 9,700,000 shares of its common stock at an exercise price
of $5.75 per share prior to the
60-month expiration date of the warrants. The offering includes a
30-day option for the underwriters to purchase up to an additional
2,910,000 shares of common stock at the same per share price and
warrants to acquire an additional 1,455,000 shares of common stock.
The offering is expected to close on December 14, 2016,
subject to customary conditions.
The Company expects to use the net proceeds from the offering to
repay outstanding indebtedness and for general corporate
purposes.
J.P. Morgan and Wells Fargo Securities are acting as the
bookrunning managers for the offering. This offering is being made
pursuant to an effective shelf registration statement previously
filed with the Securities and Exchange Commission ("SEC") on
March 23, 2016, and a final
prospectus supplement and accompanying base prospectus, copies of
which may be obtained, when available, copies of which may be
obtained from J.P. Morgan via Broadridge Financial Solutions 1155
Long Island Avenue Edgewood, New
York, 11717 or by calling (866) 803-9204, or from Wells
Fargo Securities, LLC, Attention Equity Syndicate Department, 375
Park Avenue, New York, New York
10152, or by calling (800) 326-5897 or
cmclientsupport@wellsfargo.com.
You may also obtain these documents for free when they are
available by visiting the SEC's web site at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which the offer, solicitation or sale of these securities would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Company Overview and Forward Looking Statements
TETRA is a geographically diversified oil and gas services
company, focused on completion fluids and associated products and
services, water management, frac flowback, production well testing,
offshore rig cooling, compression services and equipment, and
selected offshore services including well plugging and abandonment,
decommissioning, and diving. TETRA owns an equity interest,
including all of the general partner interest, in CSI Compressco LP (NASDAQ:CCLP), a master
limited partnership.
This press release includes certain statements that are deemed
to be forward-looking statements. Generally, the use of words such
as "may," "expect," "intend," "estimate," "projects," "anticipate,"
"believe," "could," "should," or similar expressions that convey
the uncertainty of future events, activities, expectations or
outcomes identify forward-looking statements that the Company
intends to be included within the safe harbor protections provided
by the federal securities laws. These forward-looking statements
include statements concerning expected results or projections
concerning the Company's business activities, financial guidance,
estimated earnings, earnings per share, and statements regarding
the Company's beliefs, expectations, plans, goals, future events
and performance, and other statements that are not purely
historical. These forward-looking statements are based on certain
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions, expected future developments and other factors it
believes are appropriate in the circumstances. Such statements are
subject to a number of risks and uncertainties, many of which are
beyond the control of the Company. Investors are cautioned that any
such statements are not guarantees of future performances or
results and that actual results or developments may differ
materially from those projected in the forward-looking statements.
Some of the factors that could affect actual results are described
in the section titled "Risk Factors" contained in the Company's
Annual Report on Form 10-K for the year ended December 31, 2015, as well as other risks
identified from time to time in its reports on Form 10-Q and Form
8-K filed with the Securities and Exchange Commission.
Logo -
http://photos.prnewswire.com/prnh/20100917/TTLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/tetra-technologies-inc-announces-pricing-of-upsized-public-offering-of-common-stock-and-warrants-300375963.html
SOURCE TETRA Technologies, Inc.