PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, December 4, 2:06 AM
| This Slide: #282 of 573 |
Slide #282. Mitcham Industries, Inc. — Preferred Stock Offering
Company:
Mitcham Industries, Inc. (NASDAQ:MIND)
Date announced:
6/2/2016
Shares Offered:
320,000
Date of Pricing:
6/2/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
Mitcham Industries, Inc. ("Mitcham" or the "Company") (Nasdaq: MIND) announced today that it has priced an underwritten public offering of 320,000 shares of 9.00% Series A Cumulative Preferred Stock ("Series A Preferred Stock") at a price of $25.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). In addition, Mitcham has granted the underwriter a 30-day option to purchase from it an additional 48,000 shares of Series A Preferred Stock. Dividends on the Series A Preferred Stock will be payable from and including the date of original issue at a rate of 9.00% per annum of the $25.00 per share liquidation preference (equivalent to $2.25 per annum per share). The offering is expected to close on or about June 8, 2016, subject to customary closing conditions
MIND Technology provides technology to the oceanographic, hydrographic, defense, seismic and maritime security industries. Co. operates in one business segments, Marine Technology Products. Co.'s Marine Technology Products Segment includes Seamap Pte Ltd, Seamap USA, LLC, Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd (collectively Seamap), which designs, manufactures and sells marine seismic equipment and Klein Marine Systems, Inc. (Klein), which designs, manufactures and sells side scan sonar and water-side security systems. Seamap also provides certain services related to its products, which include repair, engineering, training, field service operations and umbilical terminations.
Preferred: MINDP
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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