KLR Group Cuts Price Target After Weatherford (WFT) Announces Completion of Share Dilution
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Weatherford Prices Public Offering of 100,000,000 Ordinary Shares
March 1, 2016 8:52 PM ESTBAAR, Switzerland, March 1, 2016 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) (the "Company" or "Weatherford") announced today the pricing of its previously announced underwritten public offering of 100,000,000 ordinary shares at $5.65 per ordinary share (the "Offering"). The total aggregate proceeds from the Offering are approximately $565Â million before deducting underwriting discounts and commissions and the estimated offering expenses. The underwriters have been granted a 30-day option to purchase up to an additional 15,000,000 ordinary shares from the Company at the public offering price less the underwriting discount. The Offering is scheduled to close on March 7, 2016,... More
Weatherford Announces Public Offering of 80,000,000 Ordinary Shares
March 1, 2016 4:10 PM ESTBAAR, Switzerland, March 1, 2016 /PRNewswire/ --Â Weatherford International plc (NYSE: WFT) (the "Company" or "Weatherford") announced today the launch of an underwritten public offering of 80,000,000 ordinary shares of the Company (the "Offering"). In connection with the Offering, the Company intends to grant the underwriters a 30-day option to purchase up to 12,000,000 additional ordinary shares. The Company intends to use the net proceeds from the Offering for general corporate purposes, including the repayment of existing indebtedness.
J.P. Morgan and Morgan Stanley will act as joint book-running managers of the Offering.... More
