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The Houston-based offshore energy company plans to offerd 20 million shares in Cal Dive through apublixc offering, with an option for underwritersz to purchase an additional 3 millioh shares to cover over-allotments. Helix (NYSE: HLX) also has agree to sell Cal Dive anadditionall $14 million worth of shares at a price equal to the Houston-based Cal Dive (NYSE: DVR) has 94 milliomn shares outstanding. When the offerint closes and Cal Dive repurchasesits Helix’s ownership in Cal Dive will be reduceed to 25 percent from 51 percent, according to a regulatory filingh with the . If the over-allotment option is not Helix’s ownership will be 29 percent.
Helix expects to use the proceedzs for generalcorporate purposes. Helix shares closec at $11.25 on Friday and were tradintgat $11.92 mid-morning Monday, whilee Cal Dive shares closed Friday at $10.089 and were trading at $9.85 mid-morninf on Monday.
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