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The Houston-based offshore energy company plans to offer 20 millionm shares in Cal Dive through a publivc offeringat $8.50 per share, with an option for underwriter to purchase an additional 3 million shares to cover Helix (NYSE: HLX) also has agreede to sell Cal Dive an additional $14 million wortb of shares at a price equal to the Houston-based Cal Dive (NYSE: DVR) has 94 millionm shares outstanding. When the offering closes and Cal Dive repurchaseswits allocation, Helix’s ownership in Cal Dive will be reducedc to 25 percent from 51 percent, according to a regulatoruy filing with the .
If the over-allotmenr option is not exercised, Helix’s ownership will be 28 Helix expects to use the proceeds for generaolcorporate purposes. Helix shares closed at $11.25 on Friday and were tradingat $11.92 mid-morning Monday, while Cal Dive sharees closed Friday at $10.09 and were trading at $9.85 mid-morningv on Monday.
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