Expro Announces Secondary Offering by Selling Shareholders

Rhea-AI Summary

Expro Group Holdings N.V. (NYSE: XPRO) has initiated an underwritten offering of 7,250,000 shares of common stock owned by affiliated funds of Oak Hill Advisors. The underwriters have a 30-day option to purchase an additional 1,087,500 shares. Importantly, Expro will not sell any shares or receive proceeds from this offering. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunning managers for the offering. Expro has an effective shelf registration statement with the SEC, and interested investors should review the relevant prospectus documents before making any investment decisions.

Positive

• Underwriters have a 30-day option for additional share purchase, indicating investor interest.
• The effective shelf registration statement with the SEC facilitates future capital raising efforts.

Negative

• Expro is not receiving any proceeds from the sale of shares, which may limit its funding options.

HOUSTON--(BUSINESS WIRE)-- Energy services provider Expro Group Holdings N.V. (NYSE: XPRO) (the “Company” or “Expro”) announced today the commencement of an underwritten offering of 7,250,000 shares of its common stock currently owned by certain funds and accounts affiliated with Oak Hill Advisors (OHA) (the “Selling Shareholders”). The Selling Shareholders have granted the underwriters a 30-day option to purchase up to 1,087,500 additional shares of the Company’s common stock. Expro is not selling any shares and will not receive any proceeds from the sale of the shares in the offering.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint bookrunning managers for the offering.

The Company has an effective shelf registration statement (including a prospectus) on Form S-3 on file with the U.S. Securities and Exchange Commission (the “SEC”) and will file a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement relating to and describing the terms of the offering, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, 200 West Street, Attention: Prospectus Department, New York, New York 10282-2198, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204 or by emailing at prospectus-eq_fi@jpmchase.com.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Expro

Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company believes to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has approximately 7,600 employees and provides services and solutions to leading energy companies in both onshore and offshore environments in approximately 60 countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230111006008/en/

Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer

+1 281 994 1056

InvestorRelations@expro.com

MediaRelations@expro.com

Source: Expro

FAQ

What is the current share offering from Expro Group Holdings (XPRO)?

Expro is offering 7,250,000 shares of common stock owned by Oak Hill Advisors, with an option for underwriters to purchase an additional 1,087,500 shares.

Who are the underwriters for Expro's stock offering?

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunning managers for the offering.

Will Expro Group Holdings (XPRO) receive any proceeds from the stock offering?

No, Expro will not receive any proceeds from the sale of the shares in this offering.

What is the significance of the 30-day option in Expro's share offering?

The 30-day option for underwriters to purchase additional shares indicates potential investor interest and market demand.

What should investors do before investing in Expro Group Holdings (XPRO)?

Investors should read the prospectus related to the offering and other related documents filed with the SEC for complete information.