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Verdisys Completes $5 Million Private Placement

By | October 31, 2003

      Verdisys, a Houston-based provider of satellite communications and drilling services to the oil industry, announced that it had successfully completed a $5 million private placement of 833,333 shares of restricted common stock. The number of shares issued in this offering is subject to increase by a maximum of 277,778 depending upon certain post closing factors.

      Verdisys CEO Dan Williams commented, “This liquidity gives us additional working capital to support our growing operations and the funds necessary to accelerate the expansion of our proprietary drilling fleet.”

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