OSI Completes US$90M IPO

On February 14, 2001, Oil States International, Inc. (OSI) of Houston, Texas completed its US$90 million initial public offering and concurrent listing on the New York Stock Exchange. Immediately prior to the IPO, OSI completed a combination transaction with three of its affiliates, including PTI Group Inc. (PTI) of Edmonton, Alberta. The shareholders of PTI received shares of 892489 Alberta Inc., exchangeable for common stock of OSI. Immediately following the IPO, OSI and PTI completed their US$150 million cross-border credit facilities with Credit Suisse First Boston.

The OSI legal team consisted of Vinson & Elkins LLP in Houston, with Scott Wulfe and Creighton Smith (securities) and Robert Rabalais and Jeff King (banking), as US counsel, and Donahue Ernst & Young LLP’s Richard Peters and Alan Jochelson (corporate and securities) in Calgary as Canadian counsel. Fraser Milner Casgrain LLP in Edmonton represented PTI, with Rich Miller (corporate and banking), Rick Cruickshank, Q.C., (tax), Robert Roth and Colleen Cebuliak (securities).