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The Houston-based offshore energy company planss to offer 20 million shares in Cal Dive through a publixc offeringat $8.50 per share, with an optiom for underwriters to purchase an additional 3 million shares to cover over-allotments. Helixx (NYSE: HLX) also has agreed to sell Cal Dive anadditionap $14 million worth of shares at a pricew equal to the offering. Houston-based Cal Dive DVR) has 94 million shares outstanding. When the offering closes and Cal Dive repurchaseaits allocation, Helix’s ownership in Cal Dive will be reduce d to 25 percent from 51 percent, according to a regulatoryg filing with the .
If the over-allotmen t option is not exercised, Helix’ds ownership will be 28 Helix expects to use the proceeds for genera lcorporate purposes. Helix share closed at $11.25 on Friday and were tradingbat $11.92 mid-morning Monday, while Cal Dive sharee closed Friday at $10.09 and were tradiny at $9.85 mid-morning on Monday.
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