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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sunday, July 12, 1:20 AM

Slide #213. 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

Mitcham Industries provides technology to the oceanographic, hydrographic, defense, seismic and maritime security industries. Co. operates in two business segments: Marine Technology Products, which includes Seamap Pte Ltd and Seamap (UK) Ltd that designs, manufactures and sells marine seismic equipment, Klein Marine Systems, Inc. that designs, manufactures and sells side scan sonar and water-side security systems, and the equipment sales activities of its Australian subsidiary, Seismic Asia Pacific Pty Ltd.; and Equipment Leasing, which is engaged in the leasing of seismic equipment to companies in the oil and gas industry and the selling of new and used seismic equipment.

Preferred: MINDP

Open the MIND Page at Preferred Stock Channel »

Name:  Mitcham Industries Inc
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding MIND:  3 (see which ones)
Total Market Value Held by ETFs:  $770,856
Total Market Capitalization:  $20,000,000
% of Market Cap. Held by ETFs:  3.85%

Open the MIND Page at Preferred Stock Channel (in a new window) »

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