Vantage Drilling (stock symbol: [t]VTG[/t]), which closed at $1.60 today, is looking to sell another 46.5 million shares:
Vantage Drilling Company Announces Proposed Public Offering of Ordinary Shares
Press Release
Source: Vantage Drilling Company
On Tuesday August 18, 2009, 4:45 pm EDT
HOUSTON, TX--(Marketwire - 08/18/09) - Vantage Drilling Company ("Vantage") (AMEX:VTG.U - News) (AMEX:VTG - News) (AMEX:VTG.WS - News) announced today that it intends to offer, subject to market and other conditions, 46,500,000 of its ordinary shares. In connection with this offering, Vantage will grant the underwriters an option to purchase 6,975,000 additional ordinary shares to cover any over-allotments. Vantage intends to use proceeds from this offering, as well as the proceeds from the financing for its Aquamarine Driller, to finance the final construction payment for the Aquamarine Driller, and to use the remainder for general corporate purposes and working capital.
Johnson Rice & Company L.L.C. will act as sole book-running manager for the offering. The offering will be made under Vantage's effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"). Prospective investors should read the preliminary prospectus supplement and the shelf registration statement for more complete information about Vantage and the offering. Copies of the preliminary prospectus supplement and the accompanying prospectus and, when available, copies of the final prospectus supplement will be available on the SEC's website, www.sec.gov, and by contacting Johnson Rice & Company L.L.C., at 639 Loyola Avenue, Suite 2775, New Orleans, Louisiana 70113, or by phone at (504) 525-3767.
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