Teekay Prices Offering, Shares Fall (TOO)
Thu. July 30, 2009; Posted: 02:20 PM
Jul 30, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 7/30/2009-Shares of Teekay Offshore (NYSE:TOO) dropped at the open after the shipping company issued a press release indicating it had priced a public offering if 6.5 million shares, at $14.32 per unit. Teekay granted the underwriters a 30-day option to purchase up to an additional 975,000 units to cover over-allotments, if any. The company intends to use the proceeds from the public offering to repay amounts outstanding on one of its revolving credit facilities.
Write to Chip Brian at cbrian@tradethetrend.com
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For full details on Teekay Offshore Partners L.P (TOO)
click here. Teekay Offshore Partners L.P (TOO) has Short Term PowerRatings of 5. Details on Teekay Offshore Partners L.P (TOO) Short Term PowerRatings is available at
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