-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WzFBW+LkRREfMJVA42Iox0sugGG8e/xszvTvhbHRAqoUKYeTY6UGPlIxSgC2KuC4 ndg1qq0IVcq+VhmxZlz38g== 0000950129-99-002337.txt : 19990520 0000950129-99-002337.hdr.sgml : 19990520 ACCESSION NUMBER: 0000950129-99-002337 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEATHERFORD INTERNATIONAL INC /NEW/ CENTRAL INDEX KEY: 0000032908 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 042515019 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: SEC FILE NUMBER: 333-45207 FILM NUMBER: 99630115 BUSINESS ADDRESS: STREET 1: 515 POST OAK BLVD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77027-3415 BUSINESS PHONE: 7132978400 MAIL ADDRESS: STREET 1: 5 POST OAK PARK STREET 2: STE 1760 CITY: HOUSTON STATE: TX ZIP: 77027-3415 FORMER COMPANY: FORMER CONFORMED NAME: EVI WEATHERFORD INC DATE OF NAME CHANGE: 19980528 FORMER COMPANY: FORMER CONFORMED NAME: EVI INC DATE OF NAME CHANGE: 19980226 FORMER COMPANY: FORMER CONFORMED NAME: ENERGY VENTURES INC /DE/ DATE OF NAME CHANGE: 19920703 424B3 1 WEATHERFORD INTERNATIONAL, INC. 1 PROSPECTUS SUPPLEMENT FILED PURSUANT TO RULE 424(b)(3) (TO PROSPECTUS DATED JUNE 26, 1998) REGISTRATION NO. 333-45207 WEATHERFORD INTERNATIONAL, INC. 8,050,000 5% CONVERTIBLE SUBORDINATED PREFERRED EQUIVALENT DEBENTURES DUE 2027 ($50 PRINCIPAL AMOUNT PER DEBENTURE) (INTEREST PAYABLE FEBRUARY 1, MAY 1, AUGUST 1 AND NOVEMBER 1) 5,031,250 SHARES OF COMMON STOCK, $1.00 PAR VALUE ---------------------------------- This document supplements the Prospectus dated June 26, 1998, relating to the Debentures and the Common Stock for which you may convert the Debentures. Weatherford is not selling these Debentures. We are registering the resale of the Debentures for the accounts of the holders of the Debentures. The Debentures were initially issued in November 1997 in connection with a private offering. You can find a description of the Debentures under "Description of Debentures" in the Prospectus dated June 26, 1998. This Prospectus Supplement is incorporated by reference into the Prospectus and all terms used herein shall have the meaning assigned to them in the Prospectus. The Common Stock is listed on the New York Stock Exchange under the symbol "WFT." On May 18, 1999, the last reported sales price for the Common Stock on the New York Stock Exchange was $30 13/16 per share. This Prospectus Supplement replaces and supersedes all prior Prospectus Supplements. The Selling Securityholders' information in this Prospectus Supplement replaces and supersedes all information set forth for the Selling Securityholders in the Prospectus. ---------------------------------- WE URGE YOU TO CAREFULLY READ THE "RISK FACTORS" SECTION BEGINNING ON PAGE 4 OF THE PROSPECTUS, WHERE WE DESCRIBE SPECIFIC RISKS ASSOCIATED WITH THESE DEBENTURES, TOGETHER WITH THIS PROSPECTUS SUPPLEMENT AND THE PROSPECTUS BEFORE YOU MAKE YOUR INVESTMENT DECISION. ---------------------------------- NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. ---------------------------------- The date of this Prospectus Supplement is May 19, 1999. 2 SELLING SECURITYHOLDERS The Company sold the Debentures to the Initial Purchasers on November 3, 1997. The Initial Purchasers resold the Debentures in transactions exempt from the registration requirements of the Securities Act (a) within the United States to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and institutional "accredited investors" (within the meaning of Regulation D) that agreed in writing to comply with the transfer restrictions and other conditions, and (b) outside the United States to certain persons in reliance on Regulation S under the Securities Act. These subsequent purchasers, or their transferees, pledgees, donees or successors, may from time to time offer and sell any or all of the Debentures and/or Shares pursuant to this Prospectus. The Debentures and the Shares are being registered pursuant to a registration rights agreement, pursuant to which the Company filed the Registration Statement with regard to the Debentures and the Shares and which requires that the Company keep the Registration Statement effective until the earlier of (a) the sale pursuant to the Registration Statement or Rule 144 under the Securities Act of all the Debentures and the Shares and (b) the expiration of the holding period applicable to sales of such securities under Rule 144(k) under the Securities Act, or any successor provision. The Selling Securityholders have advised the Company that they currently intend to sell the Debentures and Shares set forth below pursuant to this Prospectus. Additional Selling Securityholders may choose to sell the Debentures and Shares upon notice to the Company. See "Plan of Distribution". Prior to any use of this Prospectus in connection with an offering of the Debentures and Shares, this Prospectus will be supplemented to set forth the name of, number of shares beneficially owned by and the number of Debentures or Shares to be offered by the Selling Securityholder. None of the Selling Securityholders named below have, within the past three years, held any position, office or other material relationship with the Company or any of its predecessors or affiliates, except as noted below. Based solely on information provided by the Selling Securityholders, the following table sets forth certain information with respect to the Debentures and the Shares beneficially owned by each Selling Securityholder and the number of such securities that may be sold pursuant to this Prospectus:
NUMBER OF NUMBER OF NUMBER OF NUMBER OF DEBENTURES SHARES DEBENTURES SHARES NAME OF BENEFICIALLY BENEFICIALLY TO BE TO BE SELLING SECURITYHOLDER OWNED(1) OWNED(2) SOLD(3) SOLD(3) ---------------------- ------------ ------------ ---------- --------- ABN-AMRO Incorporated.................................... 456,500 285,313 456,500 -- AFTRA Health Fund........................................ 25,000 15,625 25,000 -- Allegheny Teledyne Inc. Pension Plan(4).................. 78,200 48,875 78,200 -- Allstate Insurance Company(5)............................ 60,000 37,500 60,000 -- Allstate Life Insurance Company(5)....................... 100,000 62,500 100,000 -- Alscott Investments, LLC(4).............................. 60,700 37,937 60,700 -- American Investors Life Insurance Company(6)............. 15,000 9,375 15,000 -- Annuity Board of the Southern Baptist Convention......... 20,000 12,500 20,000 -- Argent Classic Convertible Arbitrage Fund (Bermuda) L.P.................................................... 130,000 81,250 130,000 -- Arkansas PERS............................................ 30,000 18,750 30,000 -- Associated Electric and Gas Insurance Services Limited... 10,000 6,250 10,000 -- Bear, Stearns & Co. Inc.................................. 50,000 31,250 50,000 -- Brown & Williamson Tobacco Corp. Master Ret. Trust....... 5,000 3,125 5,000 -- Cantor Fitzgerald & Co................................... 1,000 625 1,000 -- Colgate-Palmolive Company Pension Fund(4)................ 4,500 2,812 4,500 -- Common Fund(4)........................................... 3,400 2,125 3,400 -- Davis Convertible Securities Fund........................ 70,000 43,750 70,000 -- Delaware PERS............................................ 25,000 15,625 25,000 --
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NUMBER OF NUMBER OF NUMBER OF NUMBER OF DEBENTURES SHARES DEBENTURES SHARES NAME OF BENEFICIALLY BENEFICIALLY TO BE TO BE SELLING SECURITYHOLDER OWNED(1) OWNED(2) SOLD(3) SOLD(3) ---------------------- ------------ ------------ ---------- --------- Deutsche Bank Securities, Inc............................ 38,300 23,938 38,300 -- Donaldson, Lufkin & Jenrette Securities Corporation(7)... 1,093,600 683,500 1,093,600 -- Estate of Carol G. Simon(4).............................. 7,000 4,375 7,000 -- Evergreen American Retirement Fund....................... 30,000 18,750 30,000 -- Evergreen Foundation Fund................................ 70,000 43,750 70,000 -- Evergreen Income & Growth Fund........................... 100,000 62,500 100,000 -- Federated Equity Funds, a Massachusetts business trust, on behalf of its Federated Capital Appreciation Fund... 34,000 31,250 34,000 -- Federated Equity Income Fund, Inc.(8).................... 624,800 390,500 624,800 -- Federated Insurance Series, a Massachusetts business trust, on behalf of its Federated Equity Income Fund II..................................................... 10,200 6,375 10,200 -- Fidelity Financial Trust: Fidelity Convertible Securities Fund(9)................ 30,000 9,525,187(10) 30,000 -- Franklin Custodian Funds -- Income Fund(11).............. 1,100,000 687,500 1,100,000 -- Franklin Investors Securities Trust -- Convertible Securities Fund........................................ 20,000 12,500 20,000 -- Franklin Valuemark Income Securities Fund................ 110,000 68,750 110,000 -- Frederic C. Hamilton(4).................................. 10,300 6,437 10,300 -- GEM Convertible Securities Partners, L.P................. 41,600 26,000 41,600 -- General Motors Investment Management Corp.(6)............ 75,000 46,875 75,000 -- Golden Rule Insurance Company(4)......................... 56,300 35,187 56,300 -- HSBC Securities Inc...................................... 73,000 45,625 73,000 -- ICI American Holdings Trust.............................. 11,000 6,875 11,000 -- J.P. Morgan & Co. Incorporated........................... 265,000 170,227 265,000 -- Lazard Freres & Co. LLC.................................. 47,600 29,750 47,600 -- Lincoln National Convertible Securities Fund(12)......... 47,875 29,921 47,875 -- MainStay Convertible Fund ............................... 80,000 50,000 80,000 -- Mark IV Industries, Inc. and Subsidiaries Master Trust(4)............................................... 2,000 1,250 2,000 -- Merrill, Lynch, Pierce, Fenner & Smith, Inc.............. 115,550 72,219 115,550 -- MFS Series Trust I -- MFS Convertible Securities Fund.... 200 125 200 -- MFS Series Trust V -- MFS Total Return Fund.............. 59,800 37,375 59,800 -- Morgan Stanley Dean Witter .............................. 31,000 19,375 31,000 -- Motors Insurance Corporation(13)......................... 37,300 23,312 37,300 -- Mount Sinai School of Medicine(4)........................ 2,600 1,625 2,600 -- Nalco Chemical Retirement Trust.......................... 5,000 3,125 5,000 -- NationsBanc Montgomery Securities LLC.................... 195,000 142,175 195,000 -- Nationwide Family of Funds, on behalf of its Nationwide Equity Income Fund..................................... 800 500 800 -- PaineWebber Balanced Fund, a series of PaineWebber Master Series, Inc............................................ 13,000 8,125 13,000 -- PaineWebber Growth and Income Fund, a series of PaineWebber America Fund............................... 63,000 39,375 63,000 -- PaineWebber Series Trust -- Balanced Portfolio........... 2,800 1,750 2,800 -- PaineWebber Series Trust -- Growth and Income Portfolio.............................................. 1,200 750 1,200 -- PHL Convertible Fund..................................... 42,000 26,250 42,000 -- Pitney Bowes Retirement Fund(4).......................... 59,000 36,875 59,000 -- PRIM Board............................................... 46,000 28,750 46,000 -- Public Employees' Retirement Association of Colorado..... 70,000 114,250 70,000 -- Regence Blue Cross Blue Shield of Idaho(6)............... 1,000 625 1,000 -- Reserve Convertible Securities Fund...................... 10,000 6,250 10,000 --
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NUMBER OF NUMBER OF NUMBER OF NUMBER OF DEBENTURES SHARES DEBENTURES SHARES NAME OF BENEFICIALLY BENEFICIALLY TO BE TO BE SELLING SECURITYHOLDER OWNED(1) OWNED(2) SOLD(3) SOLD(3) ---------------------- ------------ ------------ ---------- --------- Saudi International Bank................................. 60,000 37,500 60,000 -- Schroder & Co. Inc....................................... 10,000 6,250 10,000 -- Stark International(14).................................. 402,150 251,343 402,150 -- Tennessee Consolidated Retirement System................. 100,000 62,500 100,000 -- The Gabelli Global Convertible Securities Fund........... 4,000 2,500 4,000 -- The Lutheran Church-Missouri Synod....................... 45,000 28,125 45,000 -- The Northwestern Mutual Life Insurance Company........... 200,000(15) 351,700(16) 200,000(15) -- The TCW Group, Inc....................................... 188,200 117,625 188,200 -- TQA Vantage Plus, Ltd.................................... 12,500 7,812 12,500 -- TQA Vantage Fund, Ltd.................................... 25,000 15,625 25,000 -- TQA Arbitrage Fund, L.P.................................. 50,000 31,250 50,000 -- United National Insurance(12)............................ 2,275 1,421 2,275 -- United States Olympic Foundation(4)...................... 22,500 14,062 22,500 -- Walker Art Center(12).................................... 5,515 3,446 5,515 -- Weirton Trust(12)........................................ 14,335 8,959 14,335 -- Wenonah Development Company.............................. 22,000 13,750 22,000 -- Xerox Corporation Profit Sharing Plan(4)................. 26,900 16,812 26,900 -- ZENECA Holdings Trust.................................... 11,000 6,875 11,000 --
- --------------- (1) None of the Selling Securityholders beneficially own one percent or more of the outstanding Debentures or Shares, except for ABN-AMRO Incorporated, Allstate Life Insurance Company, Argent Classic Convertible Arbitrage Fund (Bermuda) L.P., Donaldson, Lufkin & Jenrette Securities Corporation, Evergreen Income & Growth Fund, Federated Equity Income Fund, Inc., Franklin Custodian Funds -- Income Fund, Franklin Valuemark Income Securities Fund, J.P. Morgan & Co. Incorporated, Merrill, Lynch, Pierce, Fenner & Smith, Inc., NationsBanc Montgomery Securities LLC, Stark International, Tennessee Consolidated Retirement System, The Northwestern Mutual Life Insurance Company and The TCW Group, Inc., which own 5.7%, 1.2%, 1.6%, 13.6%, 1.2%, 7.8%, 13.7%, 1.4%, 3.3%, 1.4%, 2.4%, 5.0%, 1.2%, 2.5% and 2.3% of the Debentures, respectively. (2) Includes shares of Common Stock issuable upon conversion of the Debentures. (3) Because a Selling Securityholder may sell all or a portion of the Debentures and the Shares pursuant to this Prospectus, no estimate can be given as to the number and percentages of Debentures or Shares that will be held by the Selling Securityholder upon termination of any such sales. (4) GEM Capital Management, Inc. serves as investment advisor and, in its capacity as such, has investment discretion with respect to the Debentures and Shares. (5) Allstate Insurance Company is the parent company of Allstate Life Insurance Company. (6) Salomon Brothers Asset Management Inc. serves as discretionary investment advisor and, in its capacity as such, has sole voting and investment power over the Debentures and Shares. (7) The address for Donaldson, Lufkin & Jenrette Securities Corporation is 277 Park Avenue, New York, New York 10172. (8) The address for Federated Equity Income Fund is Federated Investors Tower, 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779. (9) Fidelity Management & Research Company ("Fidelity"), a wholly owned subsidiary of FMR Corp. ("FMR") and a registered investment adviser, is the beneficial owner of 30,000 Debentures, and the underlying 18,750 shares of Common Stock, as a result of acting as investment adviser to Fidelity: Financial Trust: Fidelity Convertible Securities Fund (the "Fund"). Fidelity's and FMR's address is 82 Devonshire Street, Boston, Massachusetts 02109. 4 5 (10) FMR is deemed to be the beneficial owner of the 30,000 Debentures and an aggregate of 9,525,187 shares of Common Stock, consisting of 18,750 shares of Common Stock issuable upon conversion of the Debentures and an additional 9,506,437 shares of Common Stock (representing approximately 9.8% of the outstanding shares of Common Stock). (11) The address for Franklin Custodian Funds -- Income Fund is 777 Mariners Island Blvd., 7th Floor, San Mateo, California 94404. (12) Lynch & Mayer, Inc. serves as investment advisor and, in its capacity as such, has shared investment power over the Debentures and Shares. (13) General Motors Investment Management Corporation serves as investment advisor and, in its capacity as such, has sole voting and investment power over 27,300 Debentures. Salomon Brothers Asset Management Inc. serves as discretionary investment advisor and, in its capacity as such, has sole voting and investment power over 10,000 Debentures. (14) The address for Stark International is 1500 West Market Street, Suite 200, Mequon, Wisconsin 53092. (15) Includes 10,000 Debentures held in the Northwestern Mutual Life Insurance Company Group Annuity Separate Account. The Northwestern Mutual Life Insurance Company has shared voting and shared investment power with respect to these 10,000 Debentures. (16) Includes 51,550 shares, including the 6,250 shares of Common Stock issuable upon conversion of the Debentures described in note 15, held in The Northwestern Mutual Life Insurance Company Group Annuity Separate Account. The Northwestern Mutual Life Insurance Company has shared voting and shared investment power with respect to these shares. 5 -----END PRIVACY-ENHANCED MESSAGE-----