THE WOODLANDS, Texas,
June 16, 2016 /PRNewswire/
-- TETRA Technologies, Inc. (NYSE: TTI) (the "Company" or
"TETRA") announced today that it priced its previously announced
underwritten public offering of 10,000,000 shares of its common
stock at $5.50 per share. The offering includes a 30-day
option for the underwriters to purchase up to an additional
1,500,000 shares of common stock at the same per share price. The
offering is expected to close on June 21,
2016, subject to customary conditions.
The Company expects to use the net proceeds from the offering to
repay indebtedness outstanding under its senior secured notes and
revolving credit facility and for general corporate purposes.
BofA Merrill Lynch and Wells Fargo Securities are acting as lead
underwriters and joint book-running managers for the offering. This
offering is being made pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange
Commission ("SEC") on March 23, 2016,
and a final prospectus supplement and accompanying base prospectus,
copies of which may be obtained, when available, copies of which
may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte, North Carolina 28255-0001,
Attention: Prospectus Department or email
dg.prospectus_requests@baml.com or from Wells Fargo Securities, LLC
Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800)
326-5897 or cmclientsupport@wellsfargo.com.
You may also obtain these documents for free when they are
available by visiting the SEC's web site at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which the offer, solicitation or sale of these securities would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Company Overview and Forward Looking Statements
TETRA is a geographically diversified oil and gas services
company, focused on completion fluids and associated products and
services, water management, frac flowback, production well testing,
offshore rig cooling, compression services and equipment, and
selected offshore services including well plugging and abandonment,
decommissioning, and diving. TETRA owns an equity interest,
including all of the general partner interest, in CSI Compressco LP
(NASDAQ: CCLP), a master limited partnership.
This press release includes certain statements that are deemed
to be forward-looking statements. Generally, the use of words such
as "may," "expect," "intend," "estimate," "projects," "anticipate,"
"believe," "assume," "could," "should," "plans," "targets" or
similar expressions that convey the uncertainty of future events,
activities, expectations or outcomes identify forward-looking
statements that the Company intends to be included within the safe
harbor protections provided by the federal securities laws. These
forward-looking statements are based on certain assumptions and
analyses made by the Company in light of its experience and its
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances. Such statements are subject to a number of
risks and uncertainties, many of which are beyond the control of
the Company. Investors are cautioned that any such statements are
not guarantees of future performances or results and that actual
results or developments may differ materially from those projected
in the forward-looking statements. Some of the factors that could
affect actual results are described in the section titled "Risk
Factors" contained in the Company's Annual Report on Form 10-K for
the year ended December 31, 2015, as
well as other risks identified from time to time in its reports on
Form 10-Q and Form 8-K filed with the Securities and Exchange
Commission.
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SOURCE TETRA Technologies, Inc.