other material
confidence high
sentiment neutral
materiality 0.70
TETRA Technologies prices 10.8M share offering at $9.25/sh; net proceeds ~$94M for bromine project
TETRA TECHNOLOGIES INC
- Pricing of 10,810,811 shares at $9.25/sh; underwriters' over-allotment option exercised in full for additional ~$15M.
- Estimated net proceeds of ~$94M from initial offering, plus ~$15M from overallotment, for general corporate purposes.
- Company to use proceeds for construction of Arkansas bromine project and other general corporate purposes.
- J.P. Morgan leads underwriters; Jefferies, Berenberg, Johnson Rice, Northland Capital, CJS co-manage; closing June 4.
- Company granted 30-day over-allotment option (exercised) and agreed to 60-day lock-up on share sales.