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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 7:26 AM

Slide #74. Parker Drilling Company Preferred Stock Offering

Company: Parker Drilling Company (NYSE:PKD)
Date announced: 2/21/2017
Shares Offered: 500,000
Date of Pricing: 2/22/2017
Price Per Share: $100.00
Preferred Stock Offering Details: Parker Drilling Company (NYSE: PKD) ("Parker Drilling" or the "Company") today announced that it is commencing a registered public offering of 12,000,000 shares of its common stock. The Company also expects to grant the underwriter a 30-day option to purchase up to an additional 1,800,000 shares of common stock. In addition, the Company announced that it is commencing a registered public offering of approximately $50 million of its Series A Mandatory Convertible Preferred Stock with a liquidation preference of $100 per share (the "Preferred Stock"). The Company also expects to grant the underwriter a 30-day option to purchase up to approximately $7.5 million of additional shares of Preferred Stock. -updated 2/22- Parker Drilling Company (NYSE: PKD) ("Parker Drilling" or the "Company") today announced that it has priced a public offering of 12,000,000 shares of its common stock at a price to the public of $2.10 per share and 500,000 shares of its 7.25% Series A Mandatory Convertible Preferred Stock (the "Preferred Stock") having an offering price and liquidation preference of $100 per share. The Company has also granted the underwriter a 30-day option to purchase up to an additional 1,800,000 shares of common stock and 75,000 shares of Preferred Stock in the respective offerings. Both offerings are expected to close on February 27, 2017, subject to customary closing conditions.

Parker Drilling is a provider of contract drilling and drilling-related services and rental tools and services. Co. has two business lines: Drilling Services, which drills oil and natural gas wells for customers in both the U.S. and international markets; and Rental Tools Services, which provides rental equipment and services to exploration and production companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools provided include drill pipe, tubing, pressure control equipment, and drill collars. Co. also provides well construction services such as tubular running services and downhole tools, and well intervention services.
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Name: Parker Drilling Co
Website: parkerdrilling.com
Sector: Oil & Gas Equipment & Services
Number of ETFs Holding PKD: 13 (see which ones)
Total Market Value Held by ETFs: $6,501,784
Total Market Capitalization: $167,000,000
% of Market Cap. Held by ETFs: 3.89%

Open the PKD Page at Ru Back Packer (in a new window) »

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