Hercules Offshore (HERO) says it plans to sell 20M shares of stock and $500M of debt in a...

|About: Hercules Offshore Inc (HERO)|By:, SA News Editor

Hercules Offshore (HERO) says it plans to sell 20M shares of stock and $500M of debt in a private placement. The offshore- drilling company plans to use the proceeds to repay all outstanding debt under its existing term loan, as well as fund a new rig acquisition. Shares -2.6% AH.