Global Geophysical Sells Fewer IPO Shares, Prices Low

Global Geophysical Services Inc., a Missouri City, Texas-based provider of technology that collects seismic data for oil and gas industry, raised around $90 million via its IPO. The company sold 7.5 million shares at $12 per share, compared to plans to offer 11.5 million shares  at between $15 and $17 per share.

Global Geophysical will trade on the NYSE under ticker symbol GGS, while Credit Suisse and Barclays Capital served as co-lead underwriters. Backers include Kelso & Co. and Wayzata Opportunities Fund.

GGS filed for a $145 million IPO in 2006, but pulled the registration last year.