| Ticker: DALY | 2507 North Frazier, P.O. Box 1863 | |
| Exchange: NASDAQ-National Market | Conroe, Texas 77305 | |
| Industry: Natural Resources | (713) 350-3399 |
| Type of Shares: | Class A Common Shares | Filing Date: | 5/28/96 | |
| U.S. Shares: | 3,400,000 | Offer Date: | 8/15/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 3,400,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $34,000,000 | Selling: | $0.34 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 9,360,000 |
| Manager | Tier | Phone |
| Jefferies & Company Incorporated | Lead Manager | (800) 933-6656 |
| Southcoast Capital Corp | Co-manager | (504) 528-9174 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 4/30/96 | 4/30/96 | ||||
| Revenue: | $58.94 | Assets: | $55.88 | ||
| Net Income: | $2.67 | Liabilities: | $20.24 | ||
| EPS: | $0.41 | Equity: | $35.64 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Dailey Corporation provides directional drilling services and designs, manufactures and rents technologically-advanced downhole tools for oil and gas drilling and workover applications. Founded in 1945 as a rental tool company, the company began offering directional drilling services in 1984 and currently provides such services in the Gulf of Mexico, the United States Gulf Coast region, and most recently, Venezuela and the Austin Chalk formation in Texas and Louisiana. The company's directional drilling services include computer-aided planning of optimum well path and drilling procedures, on-site supervision, measurement-while-drilling services and sourcing and supply of MWD equipment and related drilling tools. The company offers an array of downhole tools, which it selectively markets in every major oil and gas exploration and production region in the world. Dailey introduced the first drilling jar to the oil and gas industry and currently is the leading supplier of drilling jars to the rental tool market worldwide. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for capital expenditures and to repay debt and to fund acquisitions of complementary businesses and assets and for working capital and other general corporate purposes. |
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