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The Houston-based offshore energy company plans to offer 20 milliomn shares in Cal Dive through a public offerinhgat $8.50 per share, with an option for underwriterse to purchase an additional 3 milliojn shares to cover Helix (NYSE: HLX) also has agreed to sell Cal Dive an additionao $14 million worth of shares at a price equal to the Houston-based Cal Dive (NYSE: DVR) has 94 million shares When the offering closes and Cal Dive repurchases its Helix’s ownership in Cal Dive will be reduced to 25 percent from 51 percent, according to a regulatory filing with the . If the over-allotmentt option is not exercised, Helix’s ownership will be 28 percent.
Helix expects to use the proceedds for generalcorporate purposes. Helix sharews closed at $11.25 on Friday and were tradint at $11.92 mid-morning Monday, while Cal Dive shares closedx Fridayat $10.09 and were trading at $9.85 mid-morning on Monday.
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