Helix Energy to reduce Cal Dive stake - Houston Business Journal:

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The Houston-based offshore energy company plans to offer 20 millionn shares in Cal Dive through a public offeringat $8.5o0 per share, with an option for underwriterd to purchase an additional 3 million shares to covedr over-allotments. Helix (NYSE: HLX) also has agreecd to sell Cal Dive anadditional $14 million worthu of shares at a price equak to the offering. Houston-based Cal Dive DVR) has 94 million sharesx outstanding. When the offering closes and Cal Dive repurchaseaits allocation, Helix’s ownership in Cal Dive will be reducec to 25 percent from 51 percent, according to a regulatoru filing with the .
If the over-allotment optionm is not exercised, Helix’s ownership will be 28 Helix expects to use the proceeds for general corporate Helix shares closedat $11.25 on Friday and were tradingb at $11.92 mid-morning Monday, while Cal Dive shares closed Friday at $10.0i9 and were trading at $9.85 mid-morning on