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Weatherford Wraps Up $630 Million Public Offering
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Weatherford International plc reported the completion of its previously announced underwritten public offering of 115,000,000 ordinary shares at $5.65 per ordinary share. The 115,000,000 ordinary shares included 15,000,000 ordinary shares sold to the underwriters pursuant to the exercise of the underwriters' 30-day option to purchase additional ordinary shares from the Company.
Net proceeds received by the Company from the Offering were approximately $630,257,500 million after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. 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 acted as joint book-running managers…
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