HOUSTON, May 29 /PRNewswire/ -- Universal Compression Holdings, Inc.
(NYSE: UCO) today announced that it has filed a registration statement with
the Securities and Exchange Commission to sell 4.5 million shares of the
Company's common stock to the public, consisting of 1.5 million shares which
are being offered by the Company and 3.0 million shares which are being
offered by certain selling stockholders, including Castle Harlan and its
affiliates. Weatherford International, Inc. (NYSE: WFT), which currently owns
approximately 48 percent of the Company's outstanding common stock, will not
be participating in this offering. The underwriters may also purchase on a
pro rata basis up to an additional 225,000 shares from the Company and an
additional 450,000 shares from the selling stockholders. The Company intends
to use the net proceeds from the sale of its shares for acquisitions and
general corporate purposes.
The managing underwriters of the offering will be Merrill Lynch & Co.,
Salomon Smith Barney, First Union Securities, Inc., Lehman Brothers, Howard
Weil, a division of Legg Mason Wood Walker, Inc., and Simmons & Company
International. When available, a copy of the prospectus may be obtained from
Merrill Lynch & Co., 4 World Trade Center, Prospectus Department, Street
Level, New York, NY 10080.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission 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. This communication
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any State in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such State.
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SOURCE Universal Compression Holdings, Inc.
CONTACT: David Oatman, Director, Investor Relations of Universal Compression Holdings, 713-335-7460 ; or General Inquiries, Jeffrey Wilhoit of The Financial Relations Board BSMG Worldwide, 312-640-6757