HOUSTON, March 29, 2012 (GLOBE NEWSWIRE) -- Forum Energy Technologies, Inc. (the "Company"), announced today that it has commenced an initial public offering of 15,789,472 shares of its common stock. The Company is offering 13,157,894 shares of its common stock and the selling stockholders named in the registration statement are offering 2,631,578 shares of the Company's common stock. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,368,421 shares of the Company's common stock. The common stock has been approved for listing on the New York Stock Exchange and, subject to the completion of the offering and compliance with certain conditions, will be traded under the symbol "FET." The Company intends to use all of the net proceeds it receives from this offering to repay outstanding borrowings under the revolving portion of its credit facility. The Company will not receive any proceeds from the sale of 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 (the "SEC"). J.P. Morgan, BofA Merrill Lynch, Credit Suisse, Citigroup and Deutsche Bank Securities are acting as joint book-running managers for the offering. Simmons & Company International and Tudor, Pickering, Holt & Co. are acting as senior co-managers for the offering. Capital One Southcoast, Dahlman Rose & Company, FBR, Howard Weil Incorporated and Johnson Rice & Company L.L.C. are acting as junior co-managers for the offering.
This offering will be 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:
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J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: +1-866-803-9204 |
BofA Merrill Lynch 4 World Financial Center New York, NY 10080 Attn: Prospectus Department Email: dg.prospectus_requests@baml.com |
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Credit Suisse Attention: Prospectus Department One Madison Avenue New York, New York 10010 Telephone: (800) 221-1037 Email: newyork.prospectus@credit-suisse.com |
Citigroup Attn: Prospectus Department Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn, NY 11220 Telephone: 1-800-831–9146 |
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Deutsche Bank Securities Prospectus Department Harborside Financial Center 100 Plaza One Jersey City, NJ, 07311 Telephone:1-800-503-4611 Email: prospectus.cpdg@db.com |
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A registration statement relating to these securities has been filed with 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 http://www.sec.gov under the registrant's name, "Forum Energy Technologies, Inc." This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.