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Core Lab Announces Upsizing and Pricing of Public Offering of Common Stock

AMSTERDAM, May 11, 2016 /PRNewswire/ -- Core Laboratories N.V. (euronext amsterdam:"CLB NA") announced the upsized pricing of an underwritten public offering of 1,475,000 shares of its common stock. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange or the Euronext Amsterdam, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The total gross proceeds of the offering (before underwriter's discounts and commissions and estimated offering expenses) will be approximately $175 million. Core Lab granted the underwriter a 30-day option to purchase up to 221,250 additional shares of its common stock. The offering is expected to close on May 17, 2016, subject to customary closing conditions.

The net proceeds from the offering (including any proceeds from the exercise of the underwriter's option to purchase additional shares) will be used to repay a portion of the outstanding borrowings under the Company's revolving credit facility.

Credit Suisse Securities (USA) LLC is acting as the sole underwriter for the offering.

The offering is being made under an...