UPDATE 1-Global Geophysical Services files for $184 mln IPO
* To offer 11.5 mln shares
* Expects to offer shrs at $15-$17 each
* Concurrently will sell $200 mln of senior notes
April 6 (Reuters) - Global Geophysical Services Inc filed with U.S. regulators on Tuesday to raise up to $184 million in an initial public offering of common stock.
The Missouri City, Texas-based company expects to offer 7 million shares at a price range between $15 and $17 a share, the company said in a filing with the U.S Securities and Exchange Commission.
Selling stockholders, who include the company's chief executive and finance chief, will offer another 4.5 million shares, the provider of seismic data solutions to oil and gas industry said.
Concurrent with the offering, the company will also sell $200 million in senior unsecured notes due 2017.
The company intends to use the proceeds from the offering and the sale of notes to repay debt, it said.
The underwriters for the offering are led by Credit Suisse Securities LLC.
The company has applied for listing its common stock on the New York Stock Exchange under the symbol "GGS". (Reporting by Sweta Singh in Bangalore; Editing by Ratul Ray Chaudhuri)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters