Pioneer Drilling Co. (PDC) Announces 3.82M Common Share Shelf
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- Pioneer Drilling Co. (PDC) Announces 3.82M Common Share Shelf
Pioneer Drilling Company (AMEX: PDC) today announced that it is publicly offering up to 3.82 million shares of its common stock pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Jefferies & Company, Inc. will serve as the sole underwriter for this offering. The Company has granted the underwriter an over-allotment option to purchase up to 573,000 additional shares of common stock at the public offering price, less underwriting discount and commission, within 30 days. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, working capital, acquisitions or the repayment or refinancing of indebtedness.
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