Basic Energy Announces Secondary Public Offering of 9M Shares of Common Stock

27% profit every 20 days?

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Basic Energy Services, Inc. (NYSE: BAS) today announced the commencement of a secondary public offering of 9,000,000 shares of common stock owned by DLJ Merchant Banking Partners III, L.P. and affiliated funds. The underwriters are expected to be granted a 30-day option to purchase up to 1,350,000 additional shares from the Selling Stockholders.Basic will not receive any proceeds from the offering and the number of outstanding shares of Basic's common stock will remain unchanged. The offering will be made pursuant to an automatically effective shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission today.

27% profit every 20 days?

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