TETRA Technologies (TTI) Makes $50M Investment in CSI Compressco (CCLP)

TETRA Technologies, Inc. To Purchase Series A Convertible Preferred Units From CSI Compressco LP

THE WOODLANDS, Texas, Aug. 8, 2016 /PRNewswire/ -- TETRA Technologies, Inc. (NYSE: TTI) (the "Company" or "TETRA") today announced that it has acquired 874,891 Series A Convertible Preferred Units from CSI Compressco LP (the "Partnership") (NASDAQ: CCLP) at a price of $11.43 per unit, for total consideration of $10 million, as part of the Partnership's total offering of $50 million of such units.

When the private placement is complete, TETRA's ownership interest in CSI Compressco LP will be 42.4% of the outstanding common units, 20% of the outstanding preferred units, and the approximately... More

CSI Compressco LP Announces Closing Of $50 Million Private Placement Of Series A Convertible Preferred Units

MIDLAND, Texas, Aug. 8, 2016 /PRNewswire/ -- CSI Compressco LP (NASDAQ: CCLP) ("CSI Compressco" or the "Partnership") today announced that it has closed a private placement (the "Private Placement") of approximately 4.4 million Series A Convertible Preferred Units (the "Preferred Units") at a cash purchase price of $11.43 per Preferred Unit (the "Issue Price") pursuant to a Series A Preferred Unit Purchase Agreement (the "Purchase Agreement") with the purchasers party thereto (collectively, the "Purchasers").  The Preferred Units will pay quarterly distributions in additional Preferred Units equal to an annual rate of 11.00% of the Issue... More