February 2, 2017 / 12:54 PM / in 7 months

BUZZ-Civeo Corp: Slides on opportunistic stock offering

** Civeo Corp shares down 18 pct premarket as co gets set to price its follow-on launched after the bell Weds

** Real estate operator selling 20 mln shares

** Sole bookrunner RBC marketing underwritten block in range of $3.00-$3.10, roughly 14-17 pct discount to stock's last sale

** Offering represents about 19 pct of Civeo's 108.1 mln shares outstanding

** Civeo intends to use proceeds to pay down debt under revolving credit facilities and for general purposes

** Houston-based co provides workforce accommodations primarily in the Canadian oil sands and the Australian natural resource regions

** CVEO shares have climbed 63 pct YTD. Stock bolstered by President Trump's signing of executive orders last week to move forward with construction of the Keystone XL and Dakota Access oil pipelines

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