Summary
This Form 8-K filing by Schlumberger Limited (SLB) on December 4, 2006, details a significant secondary offering of its common stock. On November 29, 2006, a Purchase Agreement was executed, under which J.P. Morgan Securities Inc. agreed to purchase approximately 4.18 million shares of Schlumberger's common stock from existing selling stockholders. Importantly, Schlumberger itself was not a party to the sale of these shares, meaning the company did not issue new shares or buy back existing ones in this transaction. The filing indicates that a related registration statement for the resale of these shares has been declared effective by the SEC, facilitating their market availability. Investors should note that this event primarily concerns the transfer of shares held by existing investors rather than a direct corporate action by Schlumberger impacting its outstanding share count or capital structure.
Key Highlights
- 1Schlumberger Limited (SLB) filed an 8-K on December 4, 2006, reporting an event from November 29, 2006.
- 2A Purchase Agreement was entered into for the secondary offering of 4,182,074 shares of Schlumberger common stock.
- 3J.P. Morgan Securities Inc. acted as the purchaser in this agreement.
- 4The shares were sold by 'Selling Stockholders' and not by Schlumberger itself.
- 5Schlumberger did not buy or sell any shares in this particular offering.
- 6A registration statement (Form S-3ASR) for the resale of these shares has been declared effective by the SEC.
- 7The Purchase Agreement is filed as an exhibit to this 8-K.