HOUSTON--(BUSINESS WIRE)--Aug. 14, 2013--
Frank’s International N.V. (the “Company”) announced today that it has
completed its initial public offering of 34,500,000 shares of its common
stock at $22.00 per share, including the exercise in full by the
underwriters of their option to purchase an additional 4,500,000 shares
of common stock from the Company.
Net proceeds received by the Company from the sale of 34,500,000 shares
of common stock were approximately $711.9 million after deducting
underwriting discounts and estimated offering expenses. The Company will
use a portion of the net proceeds to repay in full outstanding notes
payable to FWW B.V. (“FWW”), under which there was an aggregate of
$415.4 million outstanding as of June 30, 2013. Following the completion
of the offering, FWW owns 119,024,000 shares of the Company’s common
stock, representing 57.6% of the voting power in the Company. The
remaining net proceeds will be contributed to Frank’s International C.V.
(“FICV”). FICV will use such proceeds for general corporate purposes.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Simmons &
Company International, Citigroup Global Markets Inc., Morgan Stanley &
Co. LLC, Goldman, Sachs & Co. and UBS Securities LLC acted as joint
book-running managers for the offering.
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
This offering will be made only by means of a written prospectus forming
part of the effective registration statement. A written prospectus
meeting the requirements of Section 10 of the Securities Act of 1933 may
be obtained from the offices of: Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
calling 1-888-603-5847, or by emailing [email protected];
Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
One Madison Avenue, Level B1, New York, NY 10010, or by calling
1-800-221-1037, or by emailing [email protected];
Simmons & Company International, 700 Louisiana Street, Suite 1900,
Houston, TX 77002, or by calling 1-800-856-5508 or by emailing [email protected];
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by calling 1-800-831–9146, or by emailing [email protected];
Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, or by calling 1-866-718-1649, or by emailing [email protected];
Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New
York, NY 10282, or by calling 1-866-471-2526, or by emailing [email protected];
and UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue,
New York, NY 10171 or by calling 1-888 827-7275.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Frank’s International N.V. is a global oil services company that
provides a broad and comprehensive range of highly engineered tubular
services to leading exploration and production companies in both
offshore and onshore environments, with a focus on complex and
technically demanding wells. Founded in 1938, Frank’s has over 4,000
employees and provides services in approximately 60 countries on six
continents. The Company’s stock is traded on the NYSE under the symbol
Source: Frank’s International N.V.
Frank’s International N.V.
Al Petrie, (713) 231-2720