Houston-based Pride said its stockholders received as compensation one share of Seahawk common stock for every 15 shares of Pride common stock held at the close of business on Aug. 14. They will also receive cash in place of fractional shares of Seahawk.
Pride will not keep any shares of Seahawk.
Seahawk, which owns 20 jack-up rigs in the Gulf of Mexico, will begin trading on the NASDAQ Global Select Common Market on Tuesday under the ticker symbol: HAWK. The company will have about 11.6 million shares of common stock outstanding.
Shares of Pride International added 46 cents to close at $26.54.
