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The Houston-based offshore energgy company plans to offer 20 millio shares in Cal Dive through a publi c offeringat $8.50 per share, with an optionm for underwriters to purchasr an additional 3 million shares to cover over-allotments. Helix HLX) also has agreed to sell Cal Dive anadditionalk $14 million worth of shares at a price equapl to the offering. Houston-based Cal Dive DVR) has 94 million shares outstanding. When the offerinb closes and Cal Dive repurchasexsits allocation, Helix’s ownership in Cal Dive will be reducecd to 25 percent from 51 according to a regulatory filinf with the .
If the over-allotment option is not Helix’s ownership will be 28 Helix expects to use the proceeds for genera lcorporate purposes. Helix shares closedc at $11.25 on Friday and were trading at $11.932 mid-morning Monday, while Cal Dive sharez closed Fridayat $10.09 and were tradinh at $9.85 mid-morning on
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