Petroleum Helicopters, Inc. Completes Public Offering
14 Giugno 2005 - 7:39PM
Business Wire
Petroleum Helicopters, Inc. ("PHI") (Nasdaq:PHEL) (Nasdaq:PHELK)
announced today the successful completion of its public offering of
4,250,000 shares of its non-voting common stock pursuant to an
effective shelf registration statement on Form S-3 previously filed
with the Securities and Exchange Commission and declared effective
on March 31, 2005. PHI sold 4,250,000 million shares at a price of
$25.00 per share to the public and received approximately $99
million, net of expenses. The underwriters have a 30-day option to
purchase up to an additional 637,500 shares of non-voting common
stock from PHI, subject to certain conditions. PHI intends to use
substantially all of the net proceeds of this offering toward the
expansion of its aircraft fleet. In addition, PHI will use a
portion of the net proceeds to repay the indebtedness outstanding
under its revolving credit facility, a significant portion of which
was incurred to purchase new aircraft. UBS Investment Bank was the
sole book-running manager and joint lead manager with Lehman
Brothers Inc. for the offering. Howard Weil Incorporated and
Simmons and Company International acted as co-managers for the
offering. A copy of the prospectus supplement and related base
prospectus relating to this offering may be obtained from UBS
Investment Bank, Attn: Prospectus Department, 25th Floor, 299 Park
Avenue, New York, New York, 10019, Phone: (212) 821-3884, or from
any of the other underwriters. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement. Except for the
historical information contained herein, the matters discussed in
this news release are forward-looking statements that involve
certain risks and uncertainties. These risks and uncertainties
include, among other things, the stability of the capital markets,
and other factors and uncertainties inherent in providing
helicopter transportation and related services discussed in PHI's
filings with the Securities and Exchange Commission. PHI provides
helicopter transportation and related services to customers in the
oil and gas industry and for air medical programs. PHI's non-voting
common stock and voting common stock are traded on The Nasdaq
National Market System.
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