Dynamic Offshore Resources, Inc. Launches Initial Public Offering
17 Januar 2012 - 12:00PM
Business Wire
Dynamic Offshore Resources, Inc. (“Dynamic” or the “Company”)
announced today that it has commenced an initial public offering of
16,666,667 shares of its common stock. The selling stockholders
named in the registration statement expect to grant the
underwriters a 30-day option to purchase up to an additional
2,500,000 shares of the Company’s common stock. The common stock
will be listed on the New York Stock Exchange and traded under the
symbol “DOR.” Dynamic intends to use the net proceeds from the
offering to repay outstanding borrowings under the Company’s
revolving credit facility. Dynamic will not receive any proceeds
from the sale of any shares by the selling stockholders.
The offering will be made pursuant to a registration statement
on Form S-1 previously filed with the Securities and Exchange
Commission. Citigroup, Credit Suisse, Deutsche Bank Securities,
Tudor, Pickering, Holt & Co. and UBS Investment Bank are acting
as joint book-running managers for the offering. The offering of
these securities is being made only by means of a prospectus. A
written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, when available, may be obtained from the
offices of: Citigroup, Attention: Prospectus Department, Brooklyn
Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, or
by calling (800) 831-9146, or by emailing
batprospectusdept@citi.com; from Credit Suisse, Attention:
Prospectus Department, One Madison Avenue, Level 1B, New York, NY
10010, or by calling (800) 221-1037; from Deutsche Bank Securities,
Attention: Prospectus Department, Harborside Financial Center, 100
Plaza One, Jersey City, NJ 07311-3988, or by calling (800)
503-4611; from Tudor, Pickering, Holt & Co., Attention:
Prospectus Department, Heritage Plaza, 1111 Bagby, Suite 5100,
Houston, TX 77002, or by calling (713) 333-7100; or from UBS
Investment Bank, Attention: Prospectus Department, 299 Park Avenue,
New York, New York 10171, or by calling (888) 827-7275.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (the “SEC”) but
has not yet become effective. These securities may not be sold nor
may offers to buy be accepted prior to the time the registration
statement becomes effective. The registration statement is
available on the SEC’s web site at www.sec.gov under the
registrant’s name, “Dynamic Offshore Resources, Inc.” This press
release does 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 such securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
This press release includes statements regarding the offering
that may constitute forward-looking statements. Such
forward-looking statements are subject to a variety of known and
unknown risks, uncertainties, and other factors that are difficult
to predict and many of which are beyond management's control.
Dynamic Offshore Resources, Inc. is an independent
exploration and production company focused on the acquisition and
development of producing oil and natural gas properties in the Gulf
of Mexico.