Basic Energy Services Inc. - 2011-07-25
Description
The company reported the commencement of a secondary public offering of 9,000,000 shares of common stock owned by DLJ Merchant Banking Partners III, L.P. and affiliated funds. The underwriters are expected to be granted a 30-day option to purchase up to 1,350,000 additional shares from the Selling Stockholders. Currently trading at $35.80, the offering totals $322.2 million.
Goldman, Sachs & Co., Jefferies & Company Inc. and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering.