Natural Gas Services Group, Inc. Files Registration Statement With SEC for 2,382,000 Shares of Common Stock
Posted on: Friday, 6 January 2006, 12:00 CST
MIDLAND, Texas, Jan. 6 /PRNewswire-FirstCall/ -- Natural Gas Services Group, Inc. announced today that it filed a registration statement with the Securities and Exchange Commission ("SEC") relating to the proposed sale of 2,000,000 shares of its common stock. Selling stockholders are also offering 382,000 shares. The offering is being underwritten by Morgan Keegan & Company, Inc.
The net proceeds to the Company from the offering will be used primarily to expand its rental fleet and for debt reduction. The Company will not receive any proceeds from sales by the Selling Stockholders.
In connection with the offering, the Company will grant to Morgan Keegan & Company, Inc. an option for a period of 30 days to purchase up to an additional 357,300 shares to cover over-allotments, if any.
When available, copies of the preliminary prospectus relating to the proposed offering may be obtained from Morgan Keegan & Company, Inc., 50 North Front Street, Twelfth Floor, Memphis, Tennessee 38103.
A registration statement on Form S-1 relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers be accepted prior to the time that the registration statement becomes effective. This release does not constitute an offer to sell or a solicitation of an offer to purchase these securities 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 any such state.
About Natural Gas Services Group, Inc.
NGS is a leading provider of small to medium horsepower compression equipment to the natural gas industry with a primary focus on the non- conventional gas industry, i.e., coalbed methane, gas shales and tight gas. The Company manufactures, fabricates and rents natural gas compressors that enhance the production of natural gas wells and provides maintenance services for those compressors. In addition, the Company sells custom fabricated natural gas compressors to meet customer specifications dictated by well pressures, production characteristics and particular applications. The Company also manufactures and sells flare systems for gas plant and production facilities. NGS is headquartered in Midland, Texas with manufacturing facilities located in Tulsa, Oklahoma, Lewiston, Michigan and Midland, Texas and service facilities located in major gas producing basins in the U.S.
For More Information, Contact: Jim Drewitz, Investor Relations 972-355-6070 Stephen C. Taylor, President & CEO 800-580-1828
Natural Gas Services Group, Inc.
CONTACT: Jim Drewitz, Investor Relations, +1-972-355-6070, for NaturalGas Services Group, Inc.; or Stephen C. Taylor, President & CEO of Natural GasServices Group, Inc., +1-800-580-1828
Source: PRNewswire-FirstCall
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