ttis3-20091130.htm
As filed with the
Securities and Exchange Commission on November 30, 2009
Registration No.
333-
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-3
REGISTRATION
STATEMENT
UNDER
THE SECURITIES ACT OF 1933
TETRA
Technologies, Inc.
(Exact name of
registrant as specified in its charter)
Delaware
(State or
other jurisdiction of incorporation or organization)
|
74-2148293
(I.R.S.
Employer Identification No.)
|
24955
Interstate 45 North
The
Woodlands, Texas 77380
(281)
367-1983
(Address,
including zip code, and telephone number, including area code, of
registrant’s principal executive offices)
|
Bass
C. Wallace, Jr.
General
Counsel
TETRA
Technologies, Inc.
24955
Interstate 45 North
The
Woodlands, Texas 77380
(281)
367-1983
(Name,
address, including zip code, and telephone number,
including
area code, of agent for service)
|
Copy
to:
William
C. McDonald
Andrews
Kurth LLP
10001
Woodloch Forest, Suite 200
The
Woodlands, Texas 77380
(713)
220-4800
|
Scott
L. Olson
Andrews
Kurth LLP
600
Travis, Suite 4200
Houston,
Texas 77002
(713)
220-4200
|
Approximate date of commencement of
proposed sale to the public: From time to time after the
effective date of this Registration Statement, as determined in light of market
conditions and other factors.
If
the only securities being registered on this Form are being offered pursuant to
dividend or interest reinvestment plans, please check the following
box. £
If
any of the securities being registered on this Form are to be offered on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box. [X]
If
this Form is filed to register additional securities for an offering pursuant to
Rule 462(b) under the Securities Act, please check the following box and list
the Securities Act registration statement number of the earlier effective
registration statement for the same offering. £
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the
Securities Act, check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same
offering. £
If
this Form is a registration statement pursuant to General Instruction I.D. or a
post-effective amendment thereto that shall become effective upon filing with
the Commission pursuant to Rule 462(e) under the Securities Act, check the
following box. [X]
If
this Form is a post-effective amendment to a registration statement filed
pursuant to General Instruction I.D. filed to register additional securities or
additional classes of securities pursuant to Rule 413(b) under the Securities
Act, check the following box. £
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer or a
smaller reporting company. See definition of “large accelerated filer,”
“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the
Act).
Large
accelerated filer R
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Accelerated
filer £
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Non-accelerated
filer £
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Smaller
reporting company £
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(Do not check
if a smaller reporting company)
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CALCULATION
OF REGISTRATION FEE
Title
of Each Class of Securities to be Registered
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Amount
to be Registered
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Proposed
Maximum Offering Price Per Unit
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Proposed
Maximum
Aggregate
Offering
Price
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Amount
of
Registration
Fee (1)
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Common Stock
of TETRA Technologies, Inc. (2)(3)
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Preferred
Stock of TETRA Technologies, Inc. (2)
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Senior Debt
Securities of TETRA Technologies, Inc. (2)
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|
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Subordinated
Debt Securities of TETRA Technologies, Inc. (2)
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|
|
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Warrants of
TETRA Technologies, Inc. (2)
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|
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|
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Units of
TETRA Technologies, Inc. (2)
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|
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(Footnotes on next
page)
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(Continued
from table on previous page)
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(1)
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In accordance
with Rules 456(b) and 457(r) under the Securities Act of 1933, the
registrant is deferring payment of all of the registration
fee.
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(2)
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An
indeterminate aggregate amount or number of securities of each class is
being registered hereunder, as may from time to time be offered, at
indeterminate prices. Securities registered hereunder may be sold
separately, together or as units with other securities registered
hereunder. The indeterminate aggregate amount or number also includes such
securities as may, from time to time, be issued upon conversion or
exchange of securities registered hereunder, to the extent any such
securities are, by their terms, convertible into or exchangeable for other
securities.
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(3)
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Includes the
preferred share purchase rights (as adjusted and subject to further
adjustment in certain events) associated with the common
stock. The value attributable to the rights, if any, is
reflected in the value of the common stock and no separate consideration
is received for the rights.
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PROSPECTUS
TETRA
Technologies, Inc.
COMMON
STOCK
PREFERRED
STOCK
SENIOR
DEBT SECURITIES
SUBORDINATED
DEBT SECURITIES
WARRANTS
UNITS
By
this prospectus, we may from time to time offer and sell in one or more
offerings any combination of the following securities:
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•
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shares of
common stock;
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•
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shares of
preferred stock, which may be convertible into or exchangeable for debt
securities or common stock;
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•
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senior debt
securities, which may be convertible into or exchangeable for common stock
or preferred stock;
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•
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subordinated
debt securities, which may be convertible into or exchangeable for common
stock or preferred stock;
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•
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warrants to
purchase common stock, preferred stock or debt securities;
and/or
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•
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units
consisting of any combination of common stock, preferred stock, debt
securities, or warrants.
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This prospectus
provides a general description of the securities we may
offer. Supplements to this prospectus will provide the specific terms
of the securities that we actually offer, including the offering
prices. You should carefully read this prospectus, any applicable
prospectus supplement and any information under the headings “Where You Can Find
More Information” and “Incorporation by Reference” before you invest in any of
these securities. This prospectus may not be used to sell securities
unless it is accompanied by a prospectus supplement that describes those
securities.
We may sell these
securities to or through underwriters, dealers, to other purchasers and/or
through agents. Supplements to this prospectus will specify the names
of any underwriters or agents.
Our common stock is
listed and traded on the New York Stock Exchange under the symbol
“TTI.”
Investing in
our securities involves risks. Please read “Risk Factors” beginning
on page 2 of this prospectus.
Neither the
Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is
truthful or complete. Any representation to the contrary is a
criminal offense.
The date of this
prospectus is November 30, 2009.
About this
Prospectus
|
i
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Incorporation
by Reference
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ii
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Where You Can
Find More Information
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ii
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Cautionary
Statement Regarding Forward-Looking Statement
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iii
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TETRA
Technologies, Inc.
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1
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Risk
Factors
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2
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Use of
Proceeds
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2
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Ratios of
Earnings to Fixed Charges
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2
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Description
of Capital Stock
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3
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Description
of Debt Securities
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7
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Description
of Warrants
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17
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Description
of Units
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17
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Plan of
Distribution
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18
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Legal
Matters
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20
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Experts
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20
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ABOUT
THIS PROSPECTUS
This prospectus is
part of a registration statement that we filed with the Securities and Exchange
Commission, or SEC, utilizing a “shelf” registration process. Under this shelf
registration process, we may offer and sell any combination of the securities
described in this prospectus in connection with one or more offerings from time
to time.
This prospectus
provides you with a general description of the securities we may
offer. Each time we offer to sell securities, we will provide a
prospectus supplement that will contain specific information about the terms of
that offering and the securities offered by us in that offering. The
prospectus supplement may also add, update or change information contained in
this prospectus. If there is any inconsistency between the
information in this prospectus and any prospectus supplement, you should rely on
the information provided in the prospectus supplement. This
prospectus does not contain all of the information included in the registration
statement. The registration statement filed with the SEC includes
exhibits that provide more details about the matters discussed in this
prospectus. You should carefully read this prospectus, the related
exhibits filed with the SEC and any prospectus supplement, together with the
additional information described below under the headings “Where You Can Find
More Information” and “Incorporation by Reference.”
You
should rely only on the information contained or incorporated by reference in
this prospectus and in any accompanying prospectus supplement. We
have not authorized any other person to provide you with different
information. If anyone provides you with different or inconsistent
information, you should not rely on it. We are not making an offer of
the securities covered by this prospectus in any state where the offer is not
permitted. You should assume that the information appearing in this
prospectus, any prospectus supplement and any other document incorporated by
reference is accurate only as of the date on the front cover of those
documents. Our business, financial condition, results of operations
and prospects may have changed since those dates.
Under
no circumstances should the delivery to you of this prospectus create any
implication that the information contained in this prospectus is correct as of
any time after the date of this prospectus.
This prospectus may
not be used to sell securities unless it is accompanied by a prospectus
supplement that describes those securities.
Unless otherwise
indicated or unless the context otherwise requires, all references in this
prospectus to “TETRA,” “TETRA Technologies,” “our company,” “we,” “our,” “us” or
similar references mean TETRA Technologies, Inc. and its consolidated
subsidiaries. In this prospectus, we sometimes refer to the debt
securities, common stock, preferred stock, warrants and units collectively as
the “securities.”
INCORPORATION
BY REFERENCE
The SEC allows us
to “incorporate by reference” information into this document. This means that we
can disclose important information to you by referring you to another document
filed separately with the SEC. The information incorporated by reference is
considered to be part of this prospectus. We incorporate by reference the
documents listed below, other than any portions of the respective filings that
were furnished (pursuant to Item 2.02 or Item 7.01 of current reports on Form
8-K or other applicable SEC rules) rather than filed:
·
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our Annual
Report on Form 10-K for the year ended December 31, 2008, as filed with
the SEC on March 2, 2009;
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·
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our Quarterly
Reports on Form 10-Q for the quarter ended March 31, 2009, as filed with
the SEC on May 11, 2009, the quarter ended June 30, 2009, as filed with
the SEC on August 10, 2009, and the quarter ended September 30, 2009,
as filed with the SEC on November 9,
2009;
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·
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our Current
Reports on Form 8-K, as filed with the SEC on February 20, 2009, March 20,
2009, May 8, 2009, May 22, 2009, October 14, 2009, and November 30,
2009;
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·
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the
description of our common stock, preferred stock and preferred stock
purchase rights contained in our registration statement on Form 8-A filed
with the SEC on October 7, 1997, including any amendments and reports
filed for the purpose of updating such description;
and
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·
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the
description of our Series One Junior Participating Preferred Stock
contained in our registration statement on Form 8-A filed with the SEC on
October 28, 1998, as amended by Amendment No. 1 thereto filed with the SEC
on November 6, 2008 (File No. 001-13455), including any additional
amendments and reports filed for the purpose of updating such
description.
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All documents that
we file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities
Exchange Act of 1934, as amended, which we refer to as the Exchange Act, after
the date of this prospectus and until our offerings hereunder are completed will
be deemed to be incorporated by reference into this prospectus and will be a
part of this prospectus from the date of the filing of the
document. Any statement contained in a document incorporated or
deemed to be incorporated by reference in this prospectus will be deemed to be
modified or superseded for purposes of this prospectus to the extent that a
statement contained in this prospectus or in any other subsequently filed
document that also is or is deemed to be incorporated by reference in this
prospectus modifies or supersedes that statement. Any statement that
is modified or superseded will not constitute a part of this prospectus, except
as modified or superseded.
We
will provide to each person, including any beneficial owner to whom a prospectus
is delivered, a copy of these filings, other than an exhibit to these filings,
unless we have specifically incorporated that exhibit by reference into the
filing, upon written or oral request and at no cost. Requests should be made by
writing or telephoning us at the following address:
TETRA Technologies,
Inc.
24955 Interstate 45
North
The Woodlands,
Texas 77380
(281)
367-1983
Attn: Investor
Relations
WHERE
YOU CAN FIND MORE INFORMATION
We
have filed a registration statement with the SEC under the Securities Act of
1933, as amended, which we refer to as the Securities Act, that registers the
issuance and sale of the securities offered by this prospectus. The registration
statement, including the attached exhibits, contains additional relevant
information about us. The rules and regulations of the SEC allow us to omit some
information included in the registration statement from this
prospectus.
We
file annual, quarterly, and other reports, proxy statements and other
information with the SEC under the Exchange Act. You may read and copy any
materials we file with the SEC at the SEC’s Public Reference Room at 100 F
Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
further information on the Public Reference Room. Our SEC filings are also
available to the public through the SEC’s website at http://www.sec.gov.
General information
about us, including our annual reports on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K, as well as any amendments and exhibits to
those reports, are available free of charge through our website at http://www.tetratec.com as
soon as reasonably practicable after we file them with, or furnish them to, the
SEC. Information on our website is not incorporated into this
prospectus or our other securities filings and is not a part of this
prospectus.
CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENT
Some information
contained in this prospectus, any prospectus supplement and in the documents we
incorporate by reference herein and therein may contain certain statements
(other than statements of historical fact) that constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act and Section
21E of the Exchange Act. Forward-looking statements generally can be
identified by the use of words such as “may,” “will,” “expect,” “intend,”
“estimate,” “anticipate,” “believe,” “assume,” “could,” “plans,” “projects,”
“targets” or similar expressions that convey the uncertainty of future events,
activities, expectations or outcomes. However, these are not the
exclusive means of identifying forward-looking statements.
Where any
forward-looking statement includes a statement of the assumptions or bases
underlying such forward-looking statement, we caution that, while we believe
these assumptions or bases to be reasonable and to be made in good faith,
assumed facts or bases almost always vary from actual results, and the
difference between assumed facts or bases and actual results could be material,
depending on the circumstances. It is important to note that actual
results could differ materially from those projected by such forward-looking
statements.
Although we believe
that the expectations in our forward-looking statements are reasonable, we
cannot give any assurance that those expectations will be correct. Our
operations are subject to numerous uncertainties, risks and other influences,
many of which are outside our control and any of which could materially affect
our results of operations and ultimately prove the statements we make to be
inaccurate.
Factors that could
cause our results to differ materially from the results discussed in such
forward-looking statements include, but are not limited to, the
following:
·
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activity
levels for oil and gas drilling, completion, workover, production, and
abandonment activities;
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·
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future or
expected sales, earnings, costs, expenses, acquisitions or corporate
combinations;
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·
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the ability
to resume operations and production from our damaged or destroyed
platforms;
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·
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the ability
to successfully renegotiate our supply agreements with Chemtura
Corporation or obtain alternate sources of raw materials for certain of
our calcium chloride facilities;
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·
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volatility of
oil and gas prices;
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·
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general
economic and business conditions, including the impact that the current
economic uncertainty may have on us or our
customers;
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·
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foreign
currency risks;
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·
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operating
risks inherent in oil and gas
production;
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·
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the risk of
physical damage to rigs, platforms and equipment caused by named
windstorms in the U.S. Gulf of
Mexico;
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·
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costs,
availability and adequacy of insurance and the ability to recover
thereunder;
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·
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our ability
to implement our business strategy;
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·
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uncertainties
about estimates of reserves;
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·
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estimates of
hurricane repair costs; and
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·
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risks related
to our foreign operations
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Other factors,
risks and uncertainties that could cause actual results to differ materially
from our expectations are discussed under the heading “Risk Factors” below and
as otherwise described in our periodic filings with the SEC.
We
caution you not to place undue reliance on these forward-looking statements,
which speak only as of the date of this prospectus or, in any document we
incorporate by reference, the date of that document. All such
forward-looking statements in this document are expressly qualified in their
entirety by the cautionary statements in this section, and other than as
required under the securities laws, we undertake no obligation to publicly
update or revise any forward-looking statements.
TETRA
TECHNOLOGIES, INC.
We
are an oil and gas services and production company with an integrated calcium
chloride and brominated products manufacturing operation that supplies
feedstocks to energy markets, as well as to other markets. We are composed of
three divisions: Fluids, Offshore, and Production
Enhancement.
Our Fluids Division
manufactures and markets clear brine fluids, additives, and other associated
products and services to the oil and gas industry for use in well drilling,
completion, and workover operations both domestically and in certain regions of
Latin America, Europe, Asia, and Africa. The Division also markets certain
fluids and dry calcium chloride manufactured at its production facilities to a
variety of markets outside the energy industry.
Our Offshore
Division consists of two operating segments: Offshore Services and Maritech, an
oil and gas exploration, exploitation, and production segment. The
Offshore Services segment provides:
·
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downhole and
sub-sea services such as plugging and abandonment, workover, inland water
drilling, and wireline services,
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·
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construction
and decommissioning services, including hurricane damage remediation,
utilizing our heavy-lift barges and cutting technology in the construction
or decommissioning of offshore oil and gas production platforms and
pipelines, and
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·
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diving
services involving conventional and saturated air diving and the operation
of several dive support vessels.
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The Maritech
segment consists of our Maritech Resources, Inc., or Maritech, subsidiary,
which, with its subsidiaries, is an oil and gas exploration, exploitation, and
production company focused in the offshore, inland waters and onshore regions of
the Gulf of Mexico. Maritech acquires oil and gas properties in order to grow
its production operations and to provide additional development and exploitation
opportunities, as well as to provide a baseload of business for the Offshore
Division’s Offshore Services segment.
Our Production
Enhancement Division consists of two operating segments: Production Testing and
Compressco. The Production Testing segment provides production testing services
to markets in Texas, New Mexico, Colorado, Oklahoma, Arkansas, Louisiana,
Pennsylvania, offshore Gulf of Mexico, Mexico, Brazil, Northern Africa, and the
Middle East. The Compressco segment provides wellhead
compression-based production enhancement services to a broad base of customers
throughout 14 states that encompass most of the onshore producing regions of the
United States, as well as in Canada, Mexico, and other international locations.
These production enhancement services can improve the value of natural gas and
oil wells by increasing daily production and total recoverable
reserves.
We
continue to pursue a growth strategy that includes expanding our existing
businesses – both through internal growth and through the pursuit of suitable
acquisitions – and by identifying opportunities to establish operations in
additional domestic and international niche oil service markets.
We
were incorporated in Delaware in 1981. Our corporate headquarters are located at
24955 Interstate 45 North in The Woodlands, Texas. Our phone number is (281)
367-1983 and our website is accessed at www.tetratec.com. Information
on our website is not incorporated into this prospectus or our other securities
filings and is not a part of this prospectus.
RISK
FACTORS
The securities to
be offered by this prospectus may involve a high degree of risk. When
considering an investment in any of the securities, you should consider
carefully all of the risk factors described in our annual report on Form 10-K
for the fiscal year ended December 31, 2008 and in our quarterly reports on Form
10-Q for the quarters ended June 30, 2009 and September 30,
2009. You should also consider similar information in any annual
report on Form 10-K, quarterly report on Form 10-Q or other document
incorporated by reference into this prospectus or filed by us with the SEC after
the date of this prospectus. If applicable, we will include in any
prospectus supplement a description of those significant factors that could make
the offering described in the prospectus supplement speculative or
risky.
USE
OF PROCEEDS
Unless otherwise
specified in an accompanying prospectus supplement, we expect to use the net
proceeds from the sale of the securities offered by this prospectus to
fund:
·
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capital
expenditures; and
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·
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expenditures
related to general corporate purposes, including possible future
acquisitions.
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The actual
application of proceeds from the sale of any particular tranche of securities
issued hereunder will be described in the applicable prospectus supplement
relating to such tranche of securities. We may invest funds not
required immediately for these purposes in marketable securities and short-term
investments. The precise amount and timing of the application of
these proceeds will depend upon our funding requirements and the availability
and cost of other funds.
RATIOS
OF EARNINGS TO FIXED CHARGES
The following table
sets forth our ratios of earnings to fixed charges and the ratio of earnings to
combined fixed charges and preferred stock dividends on a consolidated basis for
the periods shown. You should read these ratios of earnings to fixed
charges in connection with our consolidated financial statements, including the
notes to those statements, incorporated by reference into this
prospectus.
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Nine
Months
Ended
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2004
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2005
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2006
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2007
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2008
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September 30, 2009
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Ratio of
earnings to fixed charges(a)
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9.25x
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8.21x
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10.53x
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1.06x
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(b)
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4.86x
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________________
(a)
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The ratio of
earnings to combined fixed charges and preferred stock dividends is the
same as the ratio of earnings to fixed charges for the periods presented
because no shares of preferred stock were outstanding during these
periods.
|
(b)
|
Earnings were
inadequate to cover fixed charges. The coverage deficiency
totaled $6,266,000 for the year ended December 31,
2008.
|
For these ratios,
“earnings” represent the aggregate of (a) pre-tax income from continuing
operations before adjustment for minority interests in consolidated subsidiaries
or income or loss from equity investees, (b) fixed charges, (c) amortization of
capitalized interest, (d) distributed income of equity investees and (e) our
share of pre-tax losses of equity investees for which charges arising from
guarantees are included in fixed charges, net of (a) interest capitalized, (b)
preference security dividend requirements of consolidated subsidiaries, and (c)
the minority interest in pre-tax income of subsidiaries that have not incurred
fixed charges. “Fixed charges” represent the sum of (a) interest expensed and
capitalized, (b) amortized premiums, discounts and capitalized expenses related
to indebtedness, (c) an estimate of the interest within rental expense, and (d)
preference securities dividend requirements of consolidated
subsidiaries.
DESCRIPTION
OF CAPITAL STOCK
The following is a
summary of the material terms and provisions of our capital stock. You should
refer to the applicable provisions of our restated certificate of incorporation,
as amended, our amended and restated bylaws, the Rights Agreement, dated as of
October 26, 1998, as amended on November 6, 2008 by the First Amendment to
Rights Agreement (as amended, the “Rights Agreement”), between us and
Computershare Trust Company, N.A. (as successor rights agent to Harris Trust and
Savings Bank), as rights agent, the Delaware General Corporation Law, or DGCL,
and the documents that we have incorporated by reference for a complete
statement of the terms and rights of our capital stock.
As
of November 23, 2009, our authorized capital stock was 105,000,000 shares, which
includes 100,000,000 shares authorized as common stock, $0.01 par value, and
5,000,000 shares authorized as preferred stock, $0.01 par value. As of November
23, 2009, we had 75,518,761 shares of common stock outstanding. There were no
shares of preferred stock outstanding as of such date, although 1,000,000 shares
of preferred stock have been designated as Series One Junior Participating
Preferred Stock and are reserved for issuance in connection with our Rights
Agreement. See “Rights Agreement,” below.
Common
Stock
Listing. Our common stock is
listed on the New York Stock Exchange under the symbol “TTI.”
Dividends. Subject to the
rights of holders of preferred stock, common stockholders may receive dividends
when declared by the board of directors. Dividends may be paid in cash, stock or
another form. However, our existing credit agreement contains a covenant that
restricts us from paying dividends in the event of an event of default or if
such payment of a dividend results in an event of default.
Fully Paid. All outstanding
shares of common stock are, and the common stock offered by this prospectus and
any prospectus supplement will be, fully paid and non-assessable upon
issuance.
Voting Rights. Common
stockholders are entitled to one vote in the election of directors and other
matters for each share of common stock owned. Common stockholders are not
entitled to preemptive or cumulative voting rights.
Other Rights. We will notify
common stockholders of any stockholders’ meetings in accordance with applicable
law. If we liquidate, dissolve or wind-up our business, either voluntarily or
not, common stockholders will share equally in the assets remaining after we pay
our creditors and preferred stockholders. There are no redemption or sinking
fund provisions applicable to the common stock.
Transfer Agent and Registrar.
Our transfer agent and registrar is Computershare Trust Company, N.A. located in
Providence, Rhode Island.
Preferred
Stock
Our board of
directors can, without approval of our stockholders, issue one or more series or
classes of preferred stock from time to time limited by the number of shares of
preferred stock then authorized. The board can also determine the number of
shares of each series and the rights, preferences and limitations of each series
or class, including the dividend rights, voting rights, conversion rights,
redemption rights and any liquidation preferences of any series or class of
preferred stock and the terms and conditions of issue. Our board of directors
has designated 1,000,000 shares of preferred stock as Series One Junior
Participating Preferred Stock and reserved such shares for issuance in
connection with our Rights Agreement. See “Rights Agreement,”
below.
If
we offer preferred stock, the specific terms will be described in a prospectus
supplement, including:
·
|
the specific
designation, number of shares, seniority and purchase
price;
|
·
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any
liquidation preference per share;
|
·
|
any
redemption, repayment or sinking fund
provisions;
|
·
|
any dividend
rate or rates and the dates on which any such dividends will be payable
(or the method by which such rates or dates will be
determined);
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if other than
the currency of the United States, the currency or currencies, including
composite currencies, in which such preferred stock is denominated and/or
in which payments will or may be
payable;
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the method by
which amounts in respect of such preferred stock may be calculated and any
commodities, currencies or indices, or value, rate or price, relevant to
such calculation;
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whether such
preferred stock is convertible or exchangeable and, if so, the securities
or rights into which such preferred stock is convertible or exchangeable,
and the terms and conditions upon which such conversions or exchanges will
be effected, including conversion or exchange prices or rates, the
conversion or exchange period and any other related
provisions;
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the place or
places where dividends and other payments on the preferred stock will be
payable; and
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any
additional voting, dividend, liquidation, redemption and other rights,
preferences, privileges, limitations and
restrictions.
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All shares of
preferred stock offered will, when issued, be fully paid and
non-assessable.
The transfer agent,
registrar, and dividend disbursement agent for a series of preferred stock will
be named in a prospectus supplement. The registrar for shares of preferred stock
will send notices to stockholders of any meetings at which holders of the
preferred stock have the right to elect directors or to vote on any other
matter.
In
some cases, the issuance of preferred stock could delay a change in control of
us and make it more difficult to remove present management. Under certain
circumstances, preferred stock could also restrict dividend payments to common
stockholders. See “Rights Agreement,” below.
Certain
Provisions of Our Certificate of Incorporation and Law
Our restated
certificate of incorporation, as amended, and amended and restated bylaws
contain provisions that may render more difficult possible takeover proposals to
acquire control of us and make removal of our management more difficult. Below
is a description of certain of these provisions in our restated certificate of
incorporation, as amended, and amended and restated bylaws.
Our restated
certificate of incorporation, as amended, authorizes a class of undesignated
preferred stock consisting of 5,000,000 shares, although 1,000,000 shares of
preferred stock out of the 5,000,000 shares of authorized preferred stock have
been designated as Series One Junior Participating Preferred Stock and are
reserved for issuance in connection with our Rights Agreement. Preferred stock
may be issued from time to time in one or more series, and our board of
directors, without further approval of the stockholders, is authorized to fix
the designations, powers, preferences, and rights applicable to each series of
preferred stock. The purpose of authorizing the board of directors to determine
such designations, powers, preferences, and rights is to allow such
determinations to be made by the board of directors instead of the stockholders
and to avoid the expense of, and eliminate delays associated with, a stockholder
vote on specific issuances. The issuance of preferred stock, while providing
flexibility in connection with possible acquisitions and other corporate
purposes, could, among other things, adversely affect the voting power of the
holders of common stock and, under some circumstances, make it more difficult
for a third party to gain control of us.
Our restated
certificate of incorporation, as amended, provides that, subject to the rights
of holders of any preferred stock, any action required or permitted to be taken
by our stockholders must be taken at an annual or special meeting of
stockholders and not by written consent.
Our restated
certificate of incorporation, as amended, precludes the ability of our
stockholders to call meetings of stockholders. Except as may be required by law
and subject to the holders of rights of preferred stock, special meetings of
stockholders may be called only by our chairman of the board or by our board of
directors pursuant to a resolution adopted by a majority of the members of the
board of directors.
Our amended and
restated bylaws contain specific procedures for stockholder nomination of
directors. These provisions require advance notification that must be given in
accordance with the provisions of our bylaws, as amended. The procedure for
stockholder nomination of directors may have the effect of precluding a
nomination for the election of directors at a particular meeting if the required
procedure is not followed.
Although Section
214 of the DGCL provides that a corporation’s certificate of incorporation may
provide for cumulative voting for directors, our restated certificate of
incorporation, as amended, does not provide for cumulative voting. As a result,
the holders of a majority of the votes of the outstanding shares of our common
stock have the ability to elect all of the directors being elected at any annual
meeting of stockholders.
As
a Delaware corporation, we are subject to Section 203, or the business
combination statute, of the DGCL. Under the business combination
statute of the DGCL, a corporation is generally restricted from engaging in a
business combination (as defined in Section 203 of the DGCL) with an interested
stockholder (defined generally as a person owning 15% or more of the
corporation’s outstanding voting stock) for a three-year period following the
time the stockholder became an interested stockholder. This restriction applies
unless:
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prior to the
time the stockholder became an interested stockholder, the board of
directors of the corporation approved either the business combination or
the transaction which resulted in the stockholder becoming an interested
stockholder;
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the
interested stockholder owned at least 85% of the voting stock of the
corporation upon completion of the transaction which resulted in the
stockholder becoming an interested stockholder (excluding stock held by
the corporation’s directors who are also officers and by the corporation’s
employee stock plans, if any, that do not provide employees with the right
to determine confidentially whether shares held subject to the plan will
be tendered in a tender or exchange offer);
or
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at or
subsequent to the time the stockholder became an interested stockholder,
the business combination was approved by the board of directors of the
corporation and authorized by the affirmative vote, at an annual or
special meeting, and not by written consent, of at least 66 2/3% of the
outstanding voting shares of the corporation, excluding shares held by
that interested stockholder.
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The provisions of
the Delaware business combination statute do not apply to a corporation if,
subject to certain requirements specified in Section 203(b) of the DGCL, the
certificate of incorporation or bylaws of the corporation contain a provision
expressly electing not to be governed by the provisions of the statute or the
corporation does not have voting stock listed on a national securities exchange
or held of record by more than 2,000 stockholders. We have not
adopted any provision in our restated certificate of incorporation, as amended,
or amended and restated bylaws electing not to be governed by the Delaware
business combination statute. As a result, the statute is applicable to business
combinations involving us.
Rights
Agreement
On
October 26, 1998, our board of directors declared a dividend of one preferred
stock purchase right for each outstanding share of our common stock. The
dividend was paid on November 6, 1998 to the stockholders of record on that
date. The rights were issued pursuant to the terms of the Rights Agreement,
dated as of October 26, 1998, as amended by the First Amendment to Rights
Agreement, dated November 6, 2008, between us and Computershare Trust Company,
N.A. (as successor rights agent to Harris Trust and Savings Bank), as the rights
agent.
Our board adopted
the Rights Agreement to protect stockholders from coercive or otherwise unfair
takeover tactics. In general terms, it works by imposing a significant penalty
upon any person or group which acquires 20% or more of our outstanding common
stock without the approval of our board of directors. The Rights Agreement
should not interfere with any merger or other business combination approved by
our board.
The following is a
summary description of our Rights Agreement and should be read together with the
entire Rights Agreement and the First Amendment to Rights Agreement, each of
which is included as an exhibit to the registration statement of which this
prospectus forms a part.
The Rights. Our board
authorized the issuance of a right with respect to each share of common stock
outstanding on November 6, 1998. The rights initially trade with, and are
inseparable from, shares of our common stock. The rights are evidenced only by
certificates that represent shares of our common stock. New rights will
accompany any new shares of our common stock that we issue after November 6,
1998 until the Distribution Date described below.
Exercise Price. Each right
allows its holder to purchase from TETRA Technologies one one-hundredth of a
share of Series One Junior Participating Preferred Stock (“preferred share”) for
$100, subject to adjustment, once the rights become exercisable. This fraction
of a preferred share will give the stockholder approximately the
same
dividend, voting
and liquidation rights as would one share of common stock. Prior to exercise,
the right does not give its holder any dividend, voting or liquidation
rights.
Exercisability. The rights
are not exercisable until:
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10 calendar
days after the public announcement that a person or group has become an
“Acquiring Person” by obtaining beneficial ownership of 20% or more of our
outstanding common stock, or, if
earlier,
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10 business
days (or a later date determined by our board before any person or group
becomes an Acquiring Person) after a person or group begins a tender or
exchange offer which, if completed, would result in that person becoming
an Acquiring Person.
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We
refer to the date when the rights become exercisable as the “Distribution Date.”
Until that date, the common stock certificates also evidence the rights, and any
transfer of shares of common stock constitutes a transfer of rights. After that
date, the rights will separate from the common stock and be evidenced by
book-entry credits or by rights certificates that we will mail to all eligible
holders of common stock. Any rights held by an Acquiring Person are void and may
not be exercised.
Consequences
of a Person or Group Becoming an Acquiring Person.
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Flip-In. If
a person or group becomes an Acquiring Person, then all holders of rights
except the Acquiring Person may, for $100, subject to adjustment, purchase
shares of our common stock prior to the acquisition having a market value
equal to two times the purchase price
($200).
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Flip-Over. If
we are later acquired in a merger or similar transaction after the
Distribution Date, then all holders of rights except the Acquiring Person
may, for $100, subject to adjustment, purchase shares of the acquiring
corporation with a market value equal to two times the purchase price
($200) based on the market price of the acquiring corporation’s stock
prior to the merger.
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Preferred Share Provisions.
Each one one-hundredth of a preferred share, if issued:
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will not be
redeemable;
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will entitle
holders to quarterly dividend payments of $0.01 per share fraction, or an
amount equal to the dividend paid on one share of common stock, whichever
is greater;
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will entitle
holders upon liquidation either to receive $0.01 per share fraction, or an
amount equal to the payment made on one share of common stock, whichever
is greater;
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will have the
same voting power as one share of common stock;
and
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if shares of
our common stock are exchanged by merger, consolidation or a similar
transaction, will entitle holders to a per share payment equal to the
payment made on one share of common
stock.
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The value of one
one-hundredth interest in a preferred share should approximate the value of one
share of common stock.
Expiration. The rights will
expire on November 6, 2018.
Redemption. Our board of
directors may redeem the rights for $0.01 per right, as adjusted, at any time
before any person or group becomes an Acquiring Person. If our board redeems any
rights, it must redeem all of the rights. Once the rights are redeemed, the only
right of the holders of rights will be to receive the redemption price of $0.01
per right, as adjusted.
Exchange. After a person or
group becomes an Acquiring Person, but before an Acquiring Person owns 50% or
more of our outstanding common stock, our board may extinguish the rights by
exchanging one share of common stock or an equivalent security for each right,
other than rights held by the Acquiring Person.
Anti-Dilution Provisions. Our
board may adjust the purchase price of the preferred shares, the number of
preferred shares issuable and the number of outstanding rights to prevent
dilution that may occur from a stock dividend, a stock split or a
reclassification of the preferred shares or common stock. No adjustments to the
purchase price of less than 1% will be made.
Amendments. While the rights
may be redeemed, the terms of the rights agreement may be amended by our board
without the consent of the holders of the rights. However, after a person or
group becomes an Acquiring Person, our board may not amend the agreement in a
way that adversely affects holders of the rights.
Liability
and Indemnification of Officers and Directors
Our restated
certificate of incorporation, as amended, provides for indemnification of our
directors and officers to the full extent permitted by applicable law. Our
amended and restated bylaws also provide that directors and officers shall be
indemnified against liabilities arising from their service as directors or
officers to the fullest extent permitted by law, which generally requires that
the individual act in good faith and in a manner he or she reasonably believes
to be in or not opposed to our best interests.
We
have also entered into indemnification agreements with all of our directors and
elected officers. The indemnification agreements provide that we will
indemnify these officers and directors to the fullest extent permitted by our
restated certificate of incorporation, as amended, amended and restated bylaws
and applicable law. The indemnification agreements also provide that these
officers and directors shall be entitled to the advancement of fees as permitted
by applicable law and sets out the procedures required under the agreements for
determining entitlement to and obtaining indemnification and expense
advancement.
We also have
director and officer liability insurance for the benefit of each of the above
indemnitees. These policies include coverage for losses for wrongful acts and
omissions. Each of the indemnitees are named as an insured under such policies
and provided with the same rights and benefits as are accorded to the most
favorably insured of our directors and officers.
Insofar as
indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers or persons controlling the registrant pursuant
to the foregoing provisions, we have been informed that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.
DESCRIPTION
OF DEBT SECURITIES
Any debt securities
that we offer under a prospectus supplement will be direct, unsecured general
obligations. The debt securities will be either senior debt
securities or subordinated debt securities. The debt securities will
be issued under one or more separate indentures between us and Wells Fargo Bank,
National Association, as trustee. Senior debt securities will be
issued under a senior indenture and subordinated debt securities will be issued
under a subordinated indenture. Together, the senior indenture and
the subordinated indenture are called “indentures.” The indentures
will be supplemented by supplemental indentures, the material provisions of
which will be described in a prospectus supplement.
As
used in this description, the words “we,” “us” and “our” refer to TETRA
Technologies, Inc., and not to any of our subsidiaries or
affiliates.
We
have summarized some of the material provisions of the indentures
below. This summary does not restate those agreements in their
entirety. A form of senior indenture and a form of subordinated
indenture have been filed as exhibits to the registration statement of which
this prospectus is a part. We urge you to read each of the indentures
because each one, and not this description, defines the rights of holders of
debt securities.
Capitalized terms
defined in the indentures have the same meanings when used in this
prospectus.
General
The debt securities
issued under the indentures will be our direct, unsecured general
obligations. The senior debt securities will rank equally with all of
our other senior and unsubordinated debt. The subordinated debt
securities will have a junior position to all of our senior debt.
The following
description sets forth the general terms and provisions that could apply to debt
securities that we may offer to sell. A prospectus supplement
relating to any series of debt securities being offered will include specific
terms relating to the offering. These terms will include some or all
of the following, among others:
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the title and
type of the debt securities;
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the total
principal amount of the debt
securities;
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the
percentage of the principal amount at which the debt securities will be
issued and any payments due if the maturity of the debt securities is
accelerated;
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the dates on
which the principal of the debt securities will be
payable;
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the interest
rate which the debt securities will bear and the interest payment dates
for the debt securities;
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any
conversion or exchange features;
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any optional
redemption periods;
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any sinking
fund or other provisions that would obligate us to repurchase or otherwise
redeem some or all of the debt
securities;
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any
provisions granting special rights to holders when a specified event
occurs;
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any changes
to or additional events of default or
covenants;
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any special
tax implications of the debt securities, including provisions for original
issue discount securities, if offered;
and
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any other
terms of the debt securities.
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Neither of the
indentures will limit the amount of debt securities that may be
issued. Each indenture will allow debt securities to be issued up to
the principal amount that may be authorized by us and may be in any currency or
currency unit designated by us.
Debt securities of
a series may be issued in registered or global form.
Covenants
Under the
indentures, we:
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will pay the
principal of, and interest and any premium on, the debt securities when
due;
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will maintain
a place of payment;
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will deliver
a certificate to the trustee each fiscal year reviewing our compliance
with our obligations under the
indentures;
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will preserve
our corporate existence; and
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will
segregate or deposit with any paying agent sufficient funds for the
payment of any principal, interest or premium on or before the due date of
such payment.
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Mergers
and Sale of Assets
Each of the
indentures will provide that we may not consolidate with or merge into any other
Person or sell, convey, transfer or lease all or substantially all of our
properties and assets (on a consolidated basis) to another Person,
unless:
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either: (a)
we are the surviving Person; or (b) the Person formed by or surviving any
such consolidation, amalgamation or merger or resulting from such
conversion (if other than us) or to which such sale, assignment, transfer,
conveyance or other disposition has been made is a corporation, limited
liability company or limited partnership organized or existing under the
laws of the United States, any State thereof or the District of
Columbia;
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the Person
formed by or surviving any such conversion, consolidation, amalgamation or
merger (if other than us) or the Person to which such sale, assignment,
transfer, conveyance or other disposition has been made assumes all of our
obligations under such indenture and the debt securities governed thereby
pursuant to agreements reasonably satisfactory to the trustee, which may
include a supplemental indenture;
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we or the
successor will not immediately be in default under such indenture;
and
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we deliver an
officer’s certificate and opinion of counsel to the trustee stating that
such consolidation, amalgamation, merger, conveyance, sale, transfer or
lease and any supplemental indenture comply with such indenture and that
all conditions precedent set forth in such indenture have been complied
with.
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Upon the assumption
of our obligations under each indenture by a successor, we will be discharged
from all obligations under such indenture.
As
used in the indenture and in this description, the word “Person” means any individual,
corporation, company, limited liability company, partnership, limited
partnership, joint venture, association, joint-stock company, trust, other
entity, unincorporated organization or government or any agency or political
subdivision thereof.
Events
of Default
“Event of default,” when used
in the indentures with respect to debt securities of any series, will mean any
of the following:
(1) default
in the payment of any interest upon any debt security of that series when it
becomes due and payable, and continuance of such default for a period of 30
days;
(2) default
in the payment of the principal of (or premium, if any, on) any debt security of
that series at its maturity;
(3) default
in the performance, or breach, of any covenant set forth in Article Ten of the
applicable indenture (other than a covenant, a default in the performance of
which or the breach of which is elsewhere specifically dealt with as an event of
default or which has expressly been included in such indenture solely for the
benefit of one or more series of debt securities other than that series), and
continuance of such default or breach for a period of 90 days after there has
been given, by registered or certified mail, to us by the trustee or to us and
the trustee by the holders of at least 25% in principal amount of the
then-outstanding debt securities of that series a written notice specifying such
default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” thereunder;
(4) default
in the performance, or breach, of any covenant in the applicable indenture
(other than a covenant set forth in Article Ten of such indenture or any other
covenant, a default in the performance of which or the breach of which is
elsewhere specifically dealt with as an event of default or which has expressly
been included in such indenture solely for the benefit of one or more series of
debt securities other than that series), and continuance of such default or
breach for a period of 180 days after there has been given, by registered or
certified mail, to us by the trustee or to us and the trustee by the holders of
at least 25% in principal amount of the then-outstanding debt securities of that
series a written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default”
thereunder;
(5) we,
pursuant to or within the meaning of any bankruptcy law, (i) commence a
voluntary case, (ii) consent to the entry of any order for relief against
us in an involuntary case, (iii) consent to the appointment of a custodian of us
or for all or substantially all of our property, or (iv) make a general
assignment for the benefit of our creditors;
(6) a
court of competent jurisdiction enters an order or decree under any bankruptcy
law that (i) is for relief against us in an involuntary case, (ii) appoints a
custodian of us or for all or substantially all of our property, or (iii) orders
the liquidation of us, and the order or decree remains unstayed and in effect
for 60 consecutive days;
(7) default
in the deposit of any sinking fund payment when due; or
(8) any
other event of default provided with respect to debt securities of that series
in accordance with provisions of the indenture related to the issuance of such
debt securities.
An
event of default for a particular series of debt securities does not necessarily
constitute an event of default for any other series of debt securities issued
under an indenture. The trustee may withhold notice to the holders
of
debt securities of
any default (except in the payment of principal, interest or any premium) if it
considers the withholding of notice to be in the interests of the
holders.
If
an event of default for any series of debt securities occurs and continues, the
trustee or the holders of 25% in aggregate principal amount of the debt
securities of the series may declare the entire principal of all of the debt
securities of that series to be due and payable immediately. If this
happens, subject to certain conditions, the holders of a majority of the
aggregate principal amount of the debt securities of that series can void the
declaration.
Other than its
duties in case of a default, a trustee is not obligated to exercise any of its
rights or powers under any indenture at the request, order or direction of any
holders, unless the holders offer the trustee reasonable
indemnity. If they provide this reasonable indemnification, the
holders of a majority in principal amount outstanding of any series of debt
securities may direct the time, method and place of conducting any proceeding or
any remedy available to the trustee, or exercising any power conferred upon the
trustee, for any series of debt securities.
Amendments
and Waivers
Subject to certain
exceptions, the indentures, the debt securities issued thereunder or the
subsidiary guarantees, if any, may be amended or supplemented with the consent
of the holders of a majority in aggregate principal amount of the
then-outstanding debt securities of each series affected by such amendment or
supplemental indenture, with each such series voting as a separate class
(including, without limitation, consents obtained in connection with a purchase
of, or tender offer or exchange offer for, debt securities) and, subject to
certain exceptions, any past default or compliance with any provisions may be
waived with respect to each series of debt securities with the consent of the
holders of a majority in principal amount of the then-outstanding debt
securities of such series voting as a separate class (including consents
obtained in connection with a purchase of, or tender offer or exchange offer
for, debt securities).
Without the consent
of each holder of the outstanding debt securities affected, an amendment,
supplement or waiver may not, among other things:
(1) change
the stated maturity of the principal of, or any installment of principal of or
interest on, any debt security, reduce the principal amount thereof or the rate
of interest thereon or any premium payable upon the redemption thereof, reduce
the amount of the principal of an original issue discount security that would be
due and payable upon a declaration of acceleration of the maturity thereof
pursuant to the applicable indenture, change the coin or currency in which any
debt security or any premium or the interest thereon is payable, or impair the
right to institute suit for the enforcement of any such payment on or after the
stated maturity thereof (or, in the case of redemption, on or after the
redemption date therefor);
(2) reduce
the percentage in principal amount of the then-outstanding debt securities of
any series, the consent of the holders of which is required for any such
amendment or supplemental indenture, or the consent of the holders of which is
required for any waiver of compliance with certain provisions of the applicable
indenture or certain defaults thereunder and their consequences provided for in
the applicable indenture;
(3) modify
any of the provisions set forth in (i) the provisions of the applicable
indenture related to the holder’s unconditional right to receive principal,
premium, if any, and interest on the debt securities or (ii) the provisions of
the applicable indenture related to the waiver of past defaults under such
indenture;
(4) waive
a redemption payment with respect to any debt security; provided, however, that
any purchase or repurchase of debt securities shall not be deemed a redemption
of the debt securities;
(5) release
any guarantor from any of its obligations under its guarantee or the applicable
indenture, except in accordance with the terms of such indenture (as amended or
supplemented); or
(6) make
any change in the foregoing amendment and waiver provisions, except to increase
any percentage provided for therein or to provide that certain other provisions
of the applicable indenture cannot be modified or waived without the consent of
the holder of each then-outstanding debt security affected thereby.
Notwithstanding the
foregoing, without the consent of any holder of debt securities, we, the
guarantors, if any, and the trustee may amend each of the indentures or the debt
securities issued thereunder to:
(1) cure any ambiguity or defect or to
correct or supplement any provision therein that may be inconsistent with any
other provision therein;
(2) evidence
the succession of another Person to us and the assumption by any such successor
of our covenants therein and, to the extent applicable, of the debt
securities;
(3) provide
for uncertificated debt securities in addition to or in place of certificated
debt securities; provided that the uncertificated debt securities are
issued in registered form for purposes of Section 163(f) of the Internal Revenue
Code of 1986, as amended (the “Code”), or in the manner such
that the uncertificated debt securities are described in Section 163(f)(2)(B) of
the Code;
(4) add
a guarantee and cause any Person to become a guarantor, and/or to evidence the
succession of another Person to a guarantor and the assumption by any such
successor of the guarantee of such guarantor therein and, to the extent
applicable, endorsed upon any debt securities of any series;
(5) secure
the debt securities of any series;
(6) add
to our covenants such further covenants, restrictions, conditions or provisions
as we shall consider to be appropriate for the benefit of the holders of all or
any series of debt securities (and if such covenants, restrictions, conditions
or provisions are to be for the benefit of less than all series of debt
securities, stating that such covenants are expressly being included solely for
the benefit of such series), to make the occurrence, or the occurrence and
continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an event of default permitting the enforcement of all
or any of the several remedies provided in the applicable indenture as set forth
therein, or to surrender any right or power therein conferred upon
us; provided, that in respect of any such additional covenant,
restriction, condition or provision, such amendment or supplemental indenture
may provide for a particular period of grace after default (which period may be
shorter or longer than that allowed in the case of other defaults) or may
provide for an immediate enforcement upon such an event of default or may limit
the remedies available to the trustee upon such an event of default or may limit
the right of the holders of a majority in aggregate principal amount of the debt
securities of such series to waive such an event of default;
(7) make
any change to any provision of the applicable indenture that does not adversely
affect the rights or interests of any holder of debt securities issued
thereunder;
(8) provide
for the issuance of additional debt securities in accordance with the provisions
set forth in the applicable indenture on the date of such
indenture;
(9) add
any additional defaults or events of default in respect of all or any series of
debt securities;
(10) add
to, change or eliminate any of the provisions of the applicable indenture to
such extent as shall be necessary to permit or facilitate the issuance of debt
securities in bearer form, registrable or not registrable as to principal, and
with or without interest coupons;
(11) change
or eliminate any of the provisions of the applicable indenture; provided that
any such change or elimination shall become effective only when there is no debt
security outstanding of any series created prior to the execution of such
amendment or supplemental indenture that is entitled to the benefit of such
provision;
(12) establish
the form or terms of debt securities of any series as permitted thereunder,
including to reopen any series of any debt securities as permitted
thereunder;
(13) evidence
and provide for the acceptance of appointment thereunder by a successor trustee
with respect to the debt securities of one or more series and to add to or
change any of the provisions of the applicable indenture as shall be necessary
to provide for or facilitate the administration of the trusts thereunder by more
than one trustee, pursuant to the requirements of such indenture;
(14) conform
the text of the applicable indenture (and/or any supplemental indenture) or any
debt securities issued thereunder to any provision of a description of such debt
securities appearing in a prospectus orprospectus supplement or an offering
memorandum or offering circular to the extent that such provision appears on its
face to have been intended to be a verbatim recitation of a provision of such
indenture (and/or any supplemental indenture) or any debt securities issued
thereunder; or
(15) modify,
eliminate or add to the provisions of the applicable indenture to such extent as
shall be necessary to effect the qualification of such indenture under the Trust
Indenture Act of 1939, as amended (the “Trust Indenture Act”), or
under any similar federal statute subsequently enacted, and to add to such
indenture such other provisions as may be expressly required under the Trust
Indenture Act.
The consent of the
holders is not necessary under either indenture to approve the particular form
of any proposed amendment. It is sufficient if such consent approves
the substance of the proposed amendment. After an amendment with the
consent of the holders under an indenture becomes effective, we are required to
mail to the holders of debt securities thereunder a notice briefly describing
such amendment. However, the failure to give such notice to all such
holders, or any defect therein, will not impair or affect the validity of the
amendment.
Legal
Defeasance and Covenant Defeasance
Each indenture
provides that we may, at our option and at any time, elect to have all of our
obligations discharged with respect to the debt securities outstanding
thereunder and all obligations of any guarantors of such debt securities
discharged with respect to their guarantees (“Legal Defeasance”), except
for:
(1) the
rights of holders of outstanding debt securities to receive payments in respect
of the principal of, or interest or premium, if any, on, such debt securities
when such payments are due from the trust referred to below;
(2) our
obligations with respect to the debt securities concerning temporary debt
securities, registration of debt securities, mutilated, destroyed, lost or
stolen debt securities, the maintenance of an office or agency for payment and
money for security payments held in trust;
(3) the
rights, powers, trusts, duties and immunities of the trustee and our and each
guarantor’s obligations in connection therewith; and
(4) the
Legal Defeasance and Covenant Defeasance (as defined below) provisions of the
applicable indenture.
In
addition, we may, at our option and at any time, elect to have our obligations
released with respect to certain provisions of each indenture, including certain
provisions described in any prospectus supplement (such release and termination
being referred to as “Covenant
Defeasance”), and thereafter any failure to comply with such obligations
or provisions will not constitute a default or event of default. In
addition, in the event Covenant Defeasance occurs in accordance with the
applicable indenture, any defeasible event of default will no longer constitute
an event of default.
In
order to exercise either Legal Defeasance or Covenant Defeasance:
(1) we
must irrevocably deposit with the trustee, in trust, for the benefit of the
holders of the debt securities, cash in U.S. dollars, non-callable government
securities, or a combination of cash in U.S. dollars and non-callable U.S.
government securities, in amounts as will be sufficient, in the opinion of a
nationally recognized investment bank, appraisal firm or firm of independent
public accountants, to pay the principal of, and interest and premium, if any,
on, the outstanding debt securities on the stated date for payment thereof or on
the applicable redemption date, as the case may be, and we must specify whether
the debt securities are being defeased to such stated date for payment or to a
particular redemption date;
(2) in
the case of Legal Defeasance, we must deliver to the trustee an opinion of
counsel reasonably acceptable to the trustee confirming that (a) we have
received from, or there has been published by, the Internal Revenue Service a
ruling or (b) since the issue date of the debt securities, there has been a
change in the applicable federal income tax law, in either case to the effect
that, and based thereon such opinion of counsel will confirm that, the holders
of the outstanding debt securities will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at the
same time as would have been the case if such Legal Defeasance had not
occurred;
(3) in
the case of Covenant Defeasance, we must deliver to the trustee an opinion of
counsel reasonably acceptable to the trustee confirming that the holders of the
outstanding debt securities will not recognize income, gain or loss for federal
income tax purposes as a result of such Covenant Defeasance and will be subject
to federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Covenant Defeasance had not
occurred;
(4) no
default or event of default shall have occurred and be continuing on the date of
such deposit (other than a default or event of default resulting from the
borrowing of funds to be applied to such deposit);
(5) the
deposit must not result in a breach or violation of, or constitute a default
under, any other instrument to which we or any guarantor is a party or by which
we or any guarantor is bound;
(6) such
Legal Defeasance or Covenant Defeasance must not result in a breach or violation
of, or constitute a default under, any material agreement or instrument (other
than the applicable indenture) to which we are, or any of our subsidiaries is, a
party or by which we are, or any of our subsidiaries is, bound;
(7) we
must deliver to the trustee an officer’s certificate stating that the deposit
was not made by us with the intent of preferring the holders of debt securities
over our other creditors with the intent of defeating, hindering, delaying or
defrauding our creditors or the creditors of others;
(8) we
must deliver to the trustee an officer’s certificate stating that all conditions
precedent set forth in clauses (1) through (6) of this paragraph have been
complied with; and
(9) we
must deliver to the trustee an opinion of counsel (which opinion of counsel may
be subject to customary assumptions, qualifications, and exclusions) stating
that all conditions precedent set forth in clauses (2), (3) and (6) of this
paragraph have been complied with.
Satisfaction
and Discharge
Each of the
indentures will be discharged and will cease to be of further effect (except as
to surviving rights of registration of transfer or exchange of debt securities
and certain rights of the trustee, as expressly provided for in such indenture)
as to all outstanding debt securities and guarantees issued thereunder
when:
(1) either
(a) all of the debt securities theretofore authenticated and delivered under
such indenture (except lost, stolen or destroyed debt securities that have been
replaced or paid and debt securities for the payment of which money has
theretofore been deposited in trust or segregated and held in trust by us and
thereafter repaid to us or discharged from such trust) have been delivered to
the trustee for cancellation or (b) all debt securities not theretofore
delivered to the trustee for cancellation have become due and payable, will
become due and payable at their stated maturity within one year, or are to be
called for redemption within one year under arrangements satisfactory to the
trustee for the giving of notice of redemption by the trustee in the name, and
at the expense, of us, and we or the guarantors, if any, have irrevocably
deposited or caused to be deposited with the trustee funds, in an amount
sufficient to pay and discharge the entire indebtedness on the debt securities
not theretofore delivered to the trustee for cancellation, for principal of and
premium, if any, and interest on the debt securities to the date of deposit (in
the case of debt securities that have become due and payable) or to the stated
maturity or redemption date, as the case may be, together with instructions from
us irrevocably directing the trustee to apply such funds to the payment thereof
at maturity or redemption, as the case may be;
(2) we
have paid all other sums then due and payable under such indenture by us;
and
(3) we
have delivered to the trustee an officer’s certificate and an opinion of
counsel, which, taken together, state that all conditions precedent under such
indenture relating to the satisfaction and discharge of such indenture have been
complied with.
No
Personal Liability of Directors, Managers, Officers, Employees, Partners,
Members and Stockholders
No
director, manager, officer, employee, incorporator, partner, member or
stockholder of the company or any guarantor, as such, shall have any liability
for any of our or the guarantors’ obligations under the debt securities, the
indentures, the guarantees or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each holder of debt
securities, upon our issuance of the debt securities and execution of the
indentures, waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the debt
securities. Such waiver may not be effective to waive liabilities
under the federal securities laws and it is the view of the SEC that such a
waiver is against public policy.
Denominations
Unless stated
otherwise in the prospectus supplement for each issuance of debt securities, the
debt securities will be issued in denominations of $1,000 each or integral
multiples of $1,000.
Paying
Agent and Registrar
The trustee will
initially act as paying agent and registrar for the debt
securities. We may change the paying agent or registrar without prior
notice to the holders of the debt securities, and we may act as paying agent or
registrar.
Transfer
and Exchange
A
holder may transfer or exchange debt securities in accordance with the
applicable indenture. The registrar and the trustee may require a
holder, among other things, to furnish appropriate endorsements and transfer
documents, and we may require a holder to pay any taxes and fees required by law
or permitted by the applicable indenture. We are not required to
transfer or exchange any debt security selected for redemption. In
addition, we are not required to transfer or exchange any debt security for a
period of 15 days before a selection of debt securities to be
redeemed.
Subordination
The payment of the
principal of and premium, if any, and interest on subordinated debt securities
and any of our other payment obligations in respect of subordinated debt
securities (including any obligation to repurchase subordinated debt securities)
is subordinated in certain circumstances in right of payment, as set forth in
the subordinated indenture, to the prior payment in full in cash of all senior
debt.
We
also may not make any payment, whether by redemption, purchase, retirement,
defeasance or otherwise, upon or in respect of subordinated debt securities,
except from a trust described under “— Legal Defeasance and Covenant
Defeasance,” if
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a default in
the payment of all or any portion of the obligations on any designated
senior debt (“payment default”) occurs that has not been cured or waived,
or
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any other
default occurs and is continuing with respect to designated senior debt
pursuant to which the maturity thereof may be accelerated (“non-payment
default”) and, solely with respect to this clause, the trustee for the
subordinated debt securities receives a notice of the default (a “payment
blockage notice”) from the trustee or other representative for the holders
of such designated senior debt.
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Cash payments on
subordinated debt securities will be resumed (a) in the case of a payment
default, upon the date on which such default is cured or waived, and (b) in case
of a nonpayment default, the earliest of the date on which such nonpayment
default is cured or waived, the termination of the payment blockage period by
written notice to the trustee for the subordinated debt securities from the
trustee or other representative for the holders of such designated senior debt,
the payment in full of such designated senior debt or 179 days after the date on
which the applicable payment blockage notice is received. No new
payment blockage period may be commenced unless and until 360 days have elapsed
since the date of commencement of the payment blockage period resulting from the
immediately prior payment blockage notice. No nonpayment default in
respect of designated senior debt that existed or was continuing on the date of
delivery of any payment blockage notice to the trustee for the subordinated debt
securities will be, or be made, the basis for a subsequent payment blockage
notice unless such default shall have been cured or waived for a period of no
less than 90 consecutive days.
Upon any payment or
distribution of our assets or securities (other than with the money, securities
or proceeds held under any defeasance trust established in accordance with the
subordinated indenture) in connection with any dissolution or winding up or
total or partial liquidation or reorganization of us, whether voluntary or
involuntary, or in bankruptcy, insolvency, receivership or other proceedings or
other marshalling of assets for the benefit of creditors, all amounts due or to
become due upon all senior debt shall first be paid in full, in cash or cash
equivalents, before the holders of the subordinated debt securities or the
trustee on their behalf shall be entitled to receive any payment by or on behalf
of us on account of the subordinated debt securities, or any payment to acquire
any of the subordinated debt securities for cash, property or securities, or any
distribution with respect to the subordinated debt securities of any cash,
property or securities. Before any payment may be made by, or on
behalf of, us on any subordinated debt security (other than with the money,
securities or proceeds held under any defeasance trust established in accordance
with the subordinated indenture) in connection with any such dissolution,
winding up, liquidation or reorganization, any payment or distribution of our
assets or securities, to which the holders of subordinated debt securities or
the trustee on their behalf would be entitled, shall be made by us or by any
receiver, trustee in bankruptcy, liquidating trustee, agent or other similar
Person making such payment or distribution, or by the holders or the trustee if
received by them or it, directly to the holders of senior debt or their
representatives or to any trustee or trustees under any indenture pursuant to
which any such senior debt may have been issued, as their respective interests
appear, to the extent necessary to pay all such senior debt in full, in cash or
cash equivalents, after giving effect to any concurrent payment, distribution or
provision therefor to or for the holders of such senior debt.
As
a result of these subordination provisions, in the event of the our liquidation,
bankruptcy, reorganization, insolvency, receivership or similar proceeding or an
assignment for the benefit of our creditors or a marshalling of our assets or
liabilities, holders of subordinated debt securities may receive ratably less
than other creditors.
Payment
and Transfer
Principal, interest
and any premium on fully registered debt securities will be paid at designated
places. Payment will be made by check mailed to the persons in whose
names the debt securities are registered on days specified in the indentures or
any prospectus supplement. Debt securities payments in other forms
will be paid at a place designated by us and specified in a prospectus
supplement.
Fully registered
debt securities may be transferred or exchanged at the office of the trustee or
at any other office or agency maintained by us for such purposes, without the
payment of any service charge except for any tax or governmental
charge.
Global
Securities
The debt securities
of a series may be issued in whole or in part in the form of one or more global
certificates that we will deposit with a depositary identified in the applicable
prospectus supplement. Unless and until it is exchanged in whole or
in part for the individual debt securities that it represents, a global security
may not be transferred except as a whole:
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by the
applicable depositary to a nominee of the
depositary;
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·
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by any
nominee to the depositary itself or another nominee;
or
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by the
depositary or any nominee to a successor depositary or any nominee of the
successor.
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We
will describe the specific terms of the depositary arrangement with respect to a
series of debt securities in the applicable prospectus supplement. We
anticipate that the following provisions will generally apply to depositary
arrangements.
When we issue a
global security in registered form, the depositary for the global security or
its nominee will credit, on its book-entry registration and transfer system, the
respective principal amounts of the individual debt securities represented by
that global security to the accounts of persons that have accounts with the
depositary (“participants”). Those
accounts will be designated by the dealers, underwriters or agents with respect
to the underlying debt securities or by us if those debt securities are offered
and sold directly by us. Ownership of beneficial interests in a
global security will be limited to participants or persons that may hold
interests through participants. For interests of participants,
ownership of beneficial interests in the global security will be shown on
records maintained by the applicable depositary or its nominee. For
interests of persons other than participants, that ownership information will be
shown on the records of participants. Transfer of that ownership will
be effected only through those records. The laws of some states
require that certain purchasers of securities take physical delivery
of
securities in
definitive form. These limits and laws may impair our ability to
transfer beneficial interests in a global security.
As
long as the depositary for a global security, or its nominee, is the registered
owner of that global security, the depositary or nominee will be considered the
sole owner or holder of the debt securities represented by the global security
for all purposes under the applicable indenture. Except as provided
below, owners of beneficial interests in a global security:
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will not be
entitled to have any of the underlying debt securities registered in their
names;
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·
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will not
receive or be entitled to receive physical delivery of any of the
underlying debt securities in definitive form;
and
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will not be
considered the owners or holders under the indenture relating to those
debt securities.
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Payments of the
principal of, any premium on and any interest on individual debt securities
represented by a global security registered in the name of a depositary or its
nominee will be made to the depositary or its nominee as the registered owner of
the global security representing such debt securities. Neither we,
the trustee for the debt securities, any paying agent nor the registrar for the
debt securities will be responsible for any aspect of the records relating to or
payments made by the depositary or any participants on account of beneficial
interests in the global security.
We
expect that the depositary or its nominee, upon receipt of any payment of
principal, any premium or interest relating to a global security representing
any series of debt securities, immediately will credit participants’ accounts
with the payments. Those payments will be credited in amounts
proportional to the respective beneficial interests of the participants in the
principal amount of the global security as shown on the records of the
depositary or its nominee. We also expect that payments by
participants to owners of beneficial interests in the global security held
through those participants will be governed by standing instructions and
customary practices. This is now the case with securities held for
the accounts of customers registered in “street name.” Those payments
will be the sole responsibility of those participants.
If
the depositary for a series of debt securities is at any time unwilling, unable
or ineligible to continue as depositary and we do not appoint a successor
depositary within 90 days, we will issue individual debt securities of that
series in exchange for the global security or securities representing that
series. In addition, we may at any time in our sole discretion
determine not to have any debt securities of a series represented by one or more
global securities. In that event, we will issue individual debt
securities of that series in exchange for the global security or
securities. Furthermore, if we specify, an owner of a beneficial
interest in a global security may, on terms acceptable to us, the trustee and
the applicable depositary, receive individual debt securities of that series in
exchange for those beneficial interests. The foregoing is subject to
any limitations described in the applicable prospectus supplement. In
any such instance, the owner of the beneficial interest will be entitled to
physical delivery of individual debt securities equal in principal amount to the
beneficial interest and to have the debt securities registered in its
name. Those individual debt securities will be issued in any
authorized denominations.
Governing
Law
Each indenture and
the debt securities will be governed by and construed in accordance with the
laws of the State of New York.
Information
Concerning the Trustee
Wells Fargo Bank,
National Association will be the trustee under the indentures. A
successor trustee may be appointed in accordance with the terms of the
indentures.
The indentures and
the provisions of the Trust Indenture Act incorporated by reference therein will
contain certain limitations on the rights of the trustee, should it become a
creditor of us, to obtain payment of claims in certain cases, or to realize on
certain property received in respect of any such claim as security or
otherwise. The trustee will be permitted to engage in other
transactions; however, if it acquires any conflicting interest (within the
meaning of the Trust Indenture Act), it must eliminate such conflicting interest
or resign.
A
single banking or financial institution may act as trustee with respect to both
the subordinated indenture and the senior indenture. If this occurs,
and should a default occur with respect to either the subordinated debt
securities or the senior debt securities, such banking or financial institution
would be required to resign as trustee under one of
the indentures
within 90 days of such default, pursuant to the Trust Indenture Act, unless such
default were cured, duly waived or otherwise eliminated.
DESCRIPTION
OF WARRANTS
We
may issue warrants to purchase common stock, preferred stock, debt securities,
units or other securities. We may issue warrants independently or together with
other securities that may be attached to or separate from the warrants. If we
issue warrants, we may do so under one or more warrant agreements between us and
a warrant agent that we will name in the prospectus supplement.
The prospectus
supplement relating to any warrants being offered will include specific terms
relating to the offering. These terms will include some or all of the
following:
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the title of
the warrants;
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the
securities purchasable upon the exercise of such
warrants;
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the aggregate
number of warrants to be issued;
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the principal
amount of securities purchasable upon exercise of each
warrant;
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the price or
prices at which each warrant will be
issued;
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the
procedures for exercising the
warrants;
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the date upon
which the exercise of warrants will
commence;
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the
expiration date, and any other material terms of the warrants;
and
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any other
terms of such warrants, including the terms, procedures and limitations
relating to the exchange and exercise of such
warrants.
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The warrants do not
confer upon the holders thereof any voting or other rights of
stockholders.
DESCRIPTION
OF UNITS
As
specified in the applicable prospectus supplement, we may issue units consisting
of one or more debt securities, shares of common stock, shares of preferred
stock or warrants or any combination of such securities.
The applicable
prospectus supplement will specify the following terms of any units in respect
of which this prospectus is being delivered:
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the terms of
the units and of any of the debt securities, common stock, preferred stock
and warrants comprising the units, including whether and under what
circumstances the securities comprising the units may be traded
separately;
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a description
of the terms of any unit agreement governing the units;
and
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a description
of the provisions for the payment, settlement, transfer or exchange of the
units.
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PLAN
OF DISTRIBUTION
We
may sell the securities through agents, underwriters or dealers, or directly to
one or more purchasers without using underwriters or agents.
We
may designate agents to solicit offers to purchase our securities. We
will name any agent involved in offering or selling our securities, and any
commissions that we will pay to the agent, in the applicable prospectus
supplement. Unless we indicate otherwise in our prospectus
supplement, our agents will act on a best efforts basis for the period of their
appointment.
Agents could make
sales in privately negotiated transactions and/or any other method permitted by
law, including sales deemed to be an “at the market” offering as defined in Rule
415 promulgated under the Securities Act, which includes sales made directly on
or through the New York Stock Exchange, the existing trading markets for our
common stock, or sales made to or through a market maker other than on an
exchange.
If
underwriters are used in the sale, the securities will be acquired by the
underwriters for their own account. The underwriters may resell the
securities in one or more transactions (including block transactions), at
negotiated prices, at a fixed public offering price or at varying prices
determined at the time of sale. We will include the names of the
managing underwriter(s), as well as any other underwriters, and the terms of the
transaction, including the compensation the underwriters and dealers will
receive, in our prospectus supplement. If we use an underwriter, we
will execute an underwriting agreement with the underwriter(s) at the time that
we reach an agreement for the sale of our securities. The obligations
of the underwriters to purchase the securities will be subject to certain
conditions contained in the underwriting agreement. The underwriters
will be obligated to purchase all the securities of the series offered if any of
the securities are purchased. Any public offering price and any
discounts or concessions allowed or re-allowed or paid to dealers may be changed
from time to time. The underwriters will use a prospectus supplement
to sell our securities.
If
we use a dealer, we, as principal, will sell our securities to the
dealer. The dealer will then sell our securities to the public at
varying prices that the dealer will determine at the time it sells our
securities. We will include the name of the dealer and the terms of our
transactions with the dealer in the applicable prospectus
supplement.
We
may directly solicit offers to purchase our securities, and we may directly sell
our securities to institutional or other investors. In this case, no
underwriters or agents would be involved. We will describe the terms
of our direct sales in the applicable prospectus supplement.
Underwriters,
dealers and agents that participate in the distribution of the securities may be
underwriters as defined in the Securities Act and any discounts or commissions
received by them from us and any profit on their resale of the securities may be
treated as underwriting discounts and commissions under the Securities
Act. In connection with the sale of the securities offered by this
prospectus, underwriters may receive compensation from us or from the purchasers
of the securities, for whom they may act as agents, in the form of discounts,
concessions or commissions. Any underwriters, dealers or agents will
be identified and their compensation described in the applicable prospectus
supplement. We may have agreements with the underwriters, dealers and
agents to indemnify them against certain civil liabilities, including
liabilities under the Securities Act, or to contribute with respect to payments
which the underwriters, dealers or agents may be required to
make. Underwriters, dealers and agents may engage in transactions
with, or perform services for, us or our subsidiaries in the ordinary course of
their business.
Unless otherwise
specified in the applicable prospectus supplement, all securities offered under
this prospectus will be a new issue of securities with no established trading
market, other than the common stock, which is currently listed and
traded on the New York Stock Exchange. We may elect to list any other
class or series of securities on a national securities exchange or a foreign
securities exchange but are not obligated to do so. Any common
stock sold by this
prospectus will be listed for trading on the New York Stock Exchange, or such
other exchanges as our common stock may be listed for trading at the time of
issuance, subject to official notice of issuance. We cannot give you
any assurance as to the liquidity of the trading markets for any of the
securities.
Any underwriter to
whom securities are sold by us for public offering and sale may engage in
over-allotment transactions, stabilizing transactions, syndicate covering
transactions and penalty bids in accordance with Regulation M under the
Exchange Act. Over-allotment transactions involve sales by the
underwriters of the securities in excess of the offering size, which creates a
syndicate short position. Stabilizing transactions permit bids to
purchase the underlying security so long as the stabilizing bids do not exceed a
specified maximum. Syndicate covering transactions involve purchases
of the securities in the open market after the distribution has been completed
in order to cover syndicate short positions. Penalty bids permit the
underwriters to reclaim a selling
concession from a
syndicate member when the securities originally sold by the syndicate member are
purchased in a stabilizing or syndicate covering transaction to cover syndicate
short positions. These activities may cause the price of the
securities to be higher than it would otherwise be. The underwriters
will not be obligated to engage in any of the aforementioned transactions and
may discontinue such transactions at any time without notice.
LEGAL
MATTERS
The validity of the
securities offered in this prospectus will be passed upon for us by Andrews
Kurth LLP, The Woodlands, Texas. Any underwriter will be advised
about other issues relating to any offering by its own legal
counsel. If such counsel to underwriters passes on legal matters in
connection with an offering of securities made by this prospectus, and a related
prospectus supplement, that counsel will be named in the applicable prospectus
supplement related to that offering.
EXPERTS
The consolidated
financial statements of TETRA Technologies, Inc. appearing in TETRA
Technologies, Inc.’s Annual Report (Form 10-K) for the year ended December 31,
2008, and the effectiveness of TETRA Technologies, Inc.’s internal control over
financial reporting as of December 31, 2008, have been audited by Ernst &
Young LLP, independent registered public accounting firm, as set forth in their
reports thereon included therein, and incorporated herein by reference. Such
financial statements are, and audited financial statements to be included in
subsequently filed documents will be, incorporated herein in reliance upon the
reports of Ernst & Young LLP pertaining to such financial statements and the
effectiveness of our internal control over financial reporting as of the
respective dates (to the extent covered by consents filed with the Securities
and Exchange Commission) given on the authority of such firm as experts in
accounting and auditing.
Certain information
incorporated by reference into this prospectus regarding our estimated reserves
and future net revenues from the production and sale of reserves attributable to
Maritech Resources, Inc. was prepared by TETRA Technologies, Inc. and reviewed,
in part, by Ryder Scott Company, L.P., and DeGolyer and MacNaughton, independent
petroleum engineers, as stated in their reports, and is incorporated herein by
reference in reliance upon the authority of such firms as experts in giving such
reports. Maritech Resources, Inc. is a wholly owned subsidiary of
TETRA Technologies, Inc.
TETRA
Technologies, Inc.
COMMON
STOCK
PREFERRED
STOCK
SENIOR
DEBT SECURITIES
SUBORDINATED
DEBT SECURITIES
WARRANTS
UNITS
P
R O S P E C T U S
PART
II
INFORMATION
NOT REQUIRED IN PROSPECTUS
Item
14. Other Expenses of Issuance and Distribution.
The following table
sets forth the costs and expenses, other than selling or underwriting discounts
and commissions, to be incurred by us in connection with the issuance and
distribution of the securities being registered hereby.
SEC registration fee
|
$ *
|
Blue Sky expenses, including legal
fees
|
**
|
Printing and engraving expenses
|
**
|
Legal fees and expenses
|
**
|
Trustee fees and expenses
|
**
|
Rating agency fees
|
**
|
Accounting fees and expenses
|
**
|
Miscellaneous
|
|
Total
|
|
*
|
The
registrants are deferring payment of the registration fee in reliance on
Rules 456(b) and 457(r).
|
**
|
These fees
and expenses are calculated based on the number of issuances and amount of
securities offered and accordingly cannot be estimated at this
time.
|
Item
15. Indemnification of Directors and Officers.
Delaware
Corporation
TETRA Technologies,
Inc. is incorporated under the laws of the State of
Delaware. Subsection (a) of Section 145 of the General Corporation
Law of the State of Delaware empowers a corporation to indemnify any person who
was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation) by
reason of the fact that he or she is or was a director, officer, employee or
agent of the corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorneys’
fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by him or her in connection with such action, suit or proceeding if he
or she acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interests of the corporation, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe his or her
conduct was unlawful.
Subsection (b) of
Section 145 empowers a corporation to indemnify any person who was or is a party
or is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the corporation to procure a judgment in
its favor by reason of the fact that such person acted in any of the capacities
set forth above, against expenses (including attorneys’ fees) actually and
reasonably incurred by him or her in connection with the defense or settlement
of such action or suit if he or she acted in good faith and in a manner that he
or she reasonably believed to be in or not opposed to the best interests of the
corporation, except that no indemnification may be made in respect of any claim,
issue or matter as to which such person shall have been made to be liable to the
corporation unless and only to the extent that the Court of Chancery or the
court in which such action or suit was brought shall determine upon application
that, despite the adjudication of liability but in view of all of the
circumstances of the case, such person is fairly and reasonably entitled to
indemnity for such expenses which the Court of Chancery or such other court
shall deem proper.
Section 145 further
provides that to the extent a director or officer of a corporation has been
successful on the merits or otherwise in the defense of any action, suit or
proceeding referred to in subsections (a) and (b) of Section 145 in the defense
of any claim, issue or matter therein, he or she shall be indemnified against
expenses (including attorneys’ fees) actually and reasonably incurred by him or
her in connection therewith; that indemnification provided for by Section 145
shall not be deemed exclusive of any other rights to which the indemnified party
may be entitled; that indemnification provided for by Section 145 shall, unless
otherwise provided when authorized or ratified, continue as to a person who has
ceased to be a director, officer, employee or agent and shall inure to the
benefit of such person’s heirs, executors and administrators; and empowers the
corporation to purchase and maintain
insurance on behalf
of a director or officer of the corporation against any liability asserted
against him or her and incurred by him or her in any such capacity, or arising
out of his or her status as such whether or not the corporation would have the
power to indemnify him or her against such liabilities under Section
145.
TETRA Technologies’
restated certificate of incorporation, as amended, provides for indemnification
of TETRA Technologies’ directors and officers to the full extent permitted by
applicable law. TETRA Technologies’ amended and restated bylaws also
provide that its directors and officers shall be indemnified against liabilities
arising from their service as directors or officers to the fullest extent
permitted by law, which generally requires that the individual act in good faith
and in a manner he or she reasonably believes to be in or not opposed to TETRA
Technologies’ best interests.
Section 102(b)(7)
of the General Corporation Law of the State of Delaware provides that a
certificate of incorporation may contain a provision eliminating or limiting the
personal liability of a director to the corporation or its stockholders for
monetary damages for breach of fiduciary duty as a director provided that such
provision shall not eliminate or limit the liability of a director (i) for any
breach of the director’s duty of loyalty to the corporation or its stockholders,
(ii) for acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law, (iii) under Section 174 of the
Delaware General Corporation Law or (iv) for any transaction from which the
director derived an improper personal benefit. In accordance with the
Section 102(b)(7) of the General Corporation Law of the State of Delaware, TETRA
Technologies’ restated certificate of incorporation, as amended, contains a
provision that generally eliminates the personal liability of directors for
monetary damages for breaches of their fiduciary duty, subject to limitations of
Section 102(b)(7).
TETRA Technologies
has also entered into indemnification agreements with all of its directors and
elected officers. The indemnification agreements provide that TETRA
Technologies will indemnify these officers and directors to the fullest extent
permitted by its restated certificate of incorporation, as amended, amended and
restated bylaws and applicable law. The indemnification agreements also provide
that these officers and directors shall be entitled to the advancement of fees
as permitted by applicable law and sets out the procedures required under the
agreements for determining entitlement to and obtaining indemnification and
expense advancement.
TETRA Technologies
maintains insurance policies that provide coverages to its directors and
officers against certain liabilities.
Insofar as
indemnification for liabilities arising under the Securities Act of 1933, as
amended, may be permitted to directors, officers or persons controlling the
registrant pursuant to the foregoing provisions, the registrant has been
informed that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is
therefore unenforceable.
Item
16. Exhibits.
(a) Exhibits
|
Form of
Underwriting Agreement for each of the securities registered
hereby.
|
4.1
|
Restated
Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by
reference to Exhibit 3.1 to the Company’s Registration Statement on Form
S-4 filed on December 27, 1995 (SEC File No.
33-80881)).
|
4.2
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the
Company’s Registration Statement on Form S-4 filed on December 27, 1995
(SEC File No. 33-80881)).
|
4.3
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 3.1(ii) to the
Company’s Annual Report on Form 10-K for the year ended December 31, 2003
filed on March 15, 2004 (SEC File No. 001-13455)).
|
4.4
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 4.5 to the
Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC
File No. 333-133790)).
|
4.5
|
Amended and
Restated Bylaws of TETRA Technologies, Inc. (incorporated by reference to
Exhibit 4.6 to the Company’s Registration Statement on Form S-8 filed on
May 4, 2006 (SEC File No. 333-133790)).
|
4.6
|
Certificate
of Designation of Series One Junior Participating Preferred Stock of TETRA
Technologies, Inc., dated October 27, 1998 (incorporated by reference to
Exhibit 2 to the Company’s Registration Statement on Form 8-A filed on
October 28, 1998 (SEC File No. 001-13455)).
|
4.7
|
Rights
Agreement dated October 26, 1998 between the Company and Computershare
Investor Services LLC (as successor in interest to Harris Trust &
Savings Bank), as Rights Agent (incorporated by reference to Exhibit 1 to
the Company’s Registration Statement on Form 8-A filed on October 28, 1998
(SEC File No. 001-13455)).
|
4.8
|
First
Amendment to Rights Agreement dated as of November 6, 2008, by and between
TETRA Technologies, Inc. and Computershare Trust Company, N.A. (as
successor rights agent to Harris Trust and Savings Bank), as Rights Agent
(incorporated by reference to Exhibit 4.1 to the Company’s Form 8-K filed
on November 6, 2008 (SEC File No. 001-13455)).
|
4.9
|
Specimen
Common Stock Certificate of TETRA Technologies, Inc. (incorporated by
reference to Exhibit 4.1 to the Company’s Registration Statement on Form
S-1 filed on February 23, 1990 (SEC File No.
33-33586)).
|
4.10
|
Master Note
Purchase Agreement, dated September 27, 2004 by and among TETRA
Technologies, Inc. and Jackson National Life Insurance Company,
Massachusetts Mutual Life Insurance Company, C.M. Life Insurance Company,
Allstate Life Insurance Company, Teachers Insurance and Annuity
Association of America, Pacific Life Insurance Company, the Prudential
Assurance Company Limited (PAC), and Panther CDO II, B.V. (incorporated by
reference to Exhibit 4.1 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.11
|
Form of 5.07%
Senior Notes, Series 2004-A, due September 30, 2011 (incorporated by
reference to Exhibit 4.2 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.12
|
Form of 4.79%
Senior Notes, Series 2004-B, due September 30, 2011 (incorporated by
reference to Exhibit 4.3 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.13
|
Form of
Subsidiary Guaranty dated September 27, 2004, executed by TETRA Applied
Holding Company, TETRA International Incorporated, TETRA Micronutrients,
Inc., TETRA Process Services, Inc., TETRA Thermal, Inc., Maritech
Resources, Inc., Seajay Industries, Inc., TETRA Investment Holding Co.,
Inc., TETRA Financial Services, Inc., Compressco, Inc., Providence Natural
Gas, Inc., TETRA Applied LP, LLC, TETRA Applied GP, LLC, TETRA Production
Testing GP, LLC, TPS Holding Company, LLC, T Production Testing, LLC,
TETRA Real Estate, LLC, TETRA Real Estate, LP, Compressco Testing, L.L.C.,
Compressco Field Services, Inc., TETRA Production Testing Services, L.P.,
and TETRA Applied Technologies, L. P., for the benefit of the holders of
the Notes (incorporated by reference to Exhibit 4.4 to the Company’s Form
8-K filed on September 30, 2004 (SEC File No.
001-13455)).
|
4.14
|
First
Supplement to Master Note Purchase Agreement, dated April 18, 2006, by and
among TETRA Technologies, Inc. and Jackson National Life Insurance
Company, Allianz Life Insurance Company of North America, United of Omaha
Life Insurance Company, Mutual of Omaha Insurance Company, CUNA Mutual
Life Insurance Company, CUNA Mutual Insurance Society, CUMIS Insurance
Society, Inc., Members Life Insurance Company, and Modern Woodmen of
America, attaching the form of the 5.90% Senior Notes, Series 2006-A, due
April 30, 2016 as an exhibit thereto (incorporated by reference to Exhibit
4.1 to the Company’s Form 8-K filed on April 20, 2006 (SEC File No.
001-13455)).
|
4.15
|
Note Purchase
Agreement, dated April 30, 2008, by and among TETRA Technologies, inc. and
The Prudential Insurance Company of America, Physicians Mutual Insurance
Company, The Lincoln National Life Insurance Company, The Guardian Life
Insurance Company of America, The Guardian Insurance & Annuity
Company, Inc., Massachusetts Mutual Life Insurance Company, Hakone Fund II
LLC, C.M. Life Insurance Company, Pacific Life Insurance Company, United
of Omaha Life Insurance Company, Companion Life Insurance Company, United
World Life Insurance Company, Country Life Insurance Company, The Ohio
National Life Insurance Company and Ohio National Life Assurance
Corporation (incorporated by reference to Exhibit 4.1 to the Company’s
Form 8-K filed on May 5, 2008 (SEC File No.
001-13455)).
|
4.16
|
Form of 6.30%
Senior Notes, Series 2008-A, due April 30, 2013 (incorporated by reference
to Exhibit 4.2 to the Company’s Form 8-K filed on May 5, 2008 (SEC File
No. 001-13455)).
|
4.17
|
Form of 6.56%
Senior Notes, Series 2008-B, due April 30, 2015 (incorporated by reference
to Exhibit 4.3 to the Company’s Form 8-K filed on May 5, 2008 (SEC File
No. 001-13455)).
|
4.18
|
Form of
Subsidiary Guarantee dated as of April 30, 2008, executed by Beacon
Resources, LLC, Compressco Field Services, Inc., EPIC Diving and Marine
Services, LLC, Maritech Resources, Inc., TETRA Applied Technologies, LLC,
TETRA International Incorporated, TETRA Process Services, L.C., TETRA
Production Testing Services, LLC, and Maritech Timbalier Bay, LP, for the
benefit of the holders of the Notes (incorporated by reference to Exhibit
4.4 to the Company’s Form 8-K filed on May 5, 2008 (SEC File No.
0001-13455)).
|
**4.19
|
Form of
Certificate of Designation for the Preferred Stock.
|
**4.20
|
Specimen
Preferred Stock Certificate of TETRA Technologies, Inc.
|
*4.21
|
Form of
Senior Indenture (including form of senior debt
security).
|
*4.22
|
Form of
Subordinated Indenture (including form of subordinated debt
security).
|
**4.23
|
Form of
Warrant Agreement (including form of warrant
certificate).
|
**4.24
|
Form of Unit
Agreement (including form of unit certificate).
|
*5.1
|
Opinion of
Andrews Kurth LLP regarding legality of securities to be
registered.
|
*12.1
|
Statement of
computation of ratios of earnings to fixed charges.
|
*23.1
|
Consent of
Andrews Kurth LLP (included in Exhibit 5.1).
|
*23.2
|
Consent of
Ernst & Young LLP.
|
*23.3
|
Consent of
Ryder Scott Company, L.P.
|
*23.4
|
Consent of
DeGolyer and MacNaughton.
|
*24.1
|
Power of
Attorney (included on signature pages).
|
*25.1
|
Form T-1
Statement of Eligibility and Qualification of Trustee under Trust
Indenture Act of 1939 regarding the senior debt
securities.
|
*25.2
|
Form T-1
Statement of Eligibility and Qualification of Trustee under Trust
Indenture Act of 1939 regarding the subordinated debt
securities.
|
**
|
To be filed
by amendment or as an exhibit to Current Report on Form 8-K filed at a
later date in connection with a specific
offering.
|
Item
17. Undertakings.
A. The
undersigned registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(a) To
include any prospectus required by section 10(a)(3) of the Securities Act of
1933;
(b) To
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the “Calculation of Registration Fee”
table in the effective registration statement; and
(c) To
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in this registration statement;
provided, however, that paragraphs
A(l)(a), A(l)(b) and A(1)(c) above do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the SEC by the registrant pursuant to section
13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated
by reference in the registration statement, or is contained in a form of
prospectus filed pursuant to Rule 424(b) that is part of the registration
statement.
(2) That,
for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3) To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.
(4) That, for the purpose of determining
liability under the Securities Act of 1933 to any purchaser:
(a) Each
prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to
be part of the registration statement as of the date the filed prospectus was
deemed part of and included in the registration statement: and
(b) Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as
part of a registration statement in reliance on Rule 430B relating to an
offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of
providing the information required by section 10(a) of the Securities Act of
1933 shall be deemed to be part of and included in the registration statement as
of the earlier of the date such form of prospectus is first used after
effectiveness or the date of the first contract of sale of securities in the
offering described in the prospectus. As provided in Rule 430B, for liability
purposes of the issuer and any person that is at that date an underwriter, such
date shall be deemed to be a new effective date of the registration statement
relating to the securities in the registration statement to which that
prospectus relates, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof. Provided, however, that no
statement made in a registration statement or prospectus that is part of the
registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the
registration statement will, as to a purchaser with a time of contract of sale
prior to such effective date, supersede or modify any statement that was made in
the
registration
statement or prospectus that was part of the registration statement or made in
any such document immediately prior to such effective date.
(5) That, for the purpose of determining
liability of the registrant under the Securities Act of 1933 to any purchaser in
the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned
registrant pursuant to this registration statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the
securities are offered or sold to such purchaser by means of any of the
following communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such
purchaser:
(a) Any preliminary
prospectus or prospectus of the undersigned registrant relating to the offering
required to be filed pursuant to Rule 424;
(b) Any free
writing prospectus relating to the offering prepared by or on behalf of the
undersigned registrant or used or referred to by the undersigned
registrant;
(c) The portion of
any other free writing prospectus relating to the offering containing material
information about the undersigned registrant or its securities provided by or on
behalf of the undersigned registrant; and
(d) Any other
communication that is an offer in the offering made by the undersigned
registrant to the purchaser.
B. The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant’s
annual report pursuant to section 13(a) or section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
C. Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the provisions described under Item 15 above, or otherwise, the
registrant has been advised that in the opinion of the SEC such indemnification
is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
D. The
undersigned registrant hereby undertakes:
(1) For purposes of determining any liability
under the Securities Act of 1933, the information omitted from the form of
prospectus or any prospectus supplement filed as part of this registration
statement in reliance on Rule 430A and contained in a form of prospectus or
prospectus supplement filed by the registrant pursuant to Rule 424(b)( 1) or (4)
or 497(h) under the Securities Act shall be deemed to be part of this
registration statement as of the time it was declared effective.
(2) For the purpose of determining any
liability under the Securities Act of 1933, each post-effective amendment that
contains a form of prospectus or prospectus supplement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
E. The
undersigned registrant hereby undertakes to file an application for the purpose
of determining the eligibility of the trustee to act under subsection (a) of
subsection 310 of the Trust Indenture Act (“Act”) in accordance with the rules
and regulations prescribed by the SEC under section 305(b)(2) of such
Act.
SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing
on Form S-3 and has duly caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in The Woodlands, Texas on
November 30, 2009.
TETRA
Technologies, Inc.
By:/s/ Stuart M.
Brightman
Stuart M.
Brightman
President and Chief
Executive Officer
POWER
OF ATTORNEY
KNOW ALL MEN BY
THESE PRESENTS, that each of the undersigned officers and directors of TETRA
Technologies, Inc. hereby constitutes and appoints Stuart M. Brightman and
Bass C. Wallace, Jr., and each of them individually, as his true and lawful
attorneys-in-fact and agents, with full power of substitution, for him and on
his behalf and in his name, place and stead, in any and all capacities, to sign,
execute and file any or all amendments (including, without limitation,
post-effective amendments) to this registration statement and any and all
registration statements pursuant to Rule 462(b) of the Securities Act of 1933,
with any and all exhibits thereto, and all other documents required to be filed
therewith, with the Securities and Exchange Commission or any regulatory
authority, granting unto each such attorney-in-fact and agent, full power and
authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises in order to effectuate the same, as fully
to all intents and purposes as he himself might or could do, if personally
present, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or either of them, or their or his substitutes or substitute, may
lawfully do or cause to be done by virtue hereof.
Pursuant to the
requirements of the Securities Act of 1933, this registration statement has been
signed below by the following persons in the capacities and on the dates
indicated.
SIGNATURE
|
|
TITLE
|
DATE
|
/s/ Stuart M.
Brightman
|
|
President,
Chief Executive Officer
and
Director
(Principal
Executive Officer)
|
November 30,
2009
|
Stuart M.
Brightman
|
|
|
/s/ Joseph M.
Abell, III
|
|
Senior Vice
President and
Chief
Financial Officer
(Principal
Financial Officer)
|
November 30,
2009
|
Joseph M.
Abell, III
|
|
|
/s/ Ben C.
Chambers
|
|
Vice
President – Accounting
(Principal
Accounting Officer)
|
November 30,
2009
|
Ben C.
Chambers
|
|
|
/s/ Ralph S.
Cunningham
|
|
Chairman of
the Board of Directors
|
November 30,
2009
|
Ralph S.
Cunningham
|
|
|
|
/s/ Paul D.
Coombs
|
|
Director
|
November 30,
2009
|
Paul D.
Coombs
|
|
|
|
/s/ Tom H.
Delimitros
|
|
Director
|
November 30,
2009
|
Tom H.
Delimitros
|
|
|
|
/s/ Geoffrey
M. Hertel
|
|
Director
|
November 30,
2009
|
Geoffrey M.
Hertel
|
|
|
|
/s/ Allen T.
McInnes
|
|
Director
|
November 30,
2009
|
Allen T.
McInnes
|
|
|
|
/s/ Kenneth
P. Mitchell
|
|
Director
|
November 30,
2009
|
Kenneth P.
Mitchell
|
|
|
|
/s/ William
D. Sullivan
|
|
Director
|
November 30,
2009
|
William D.
Sullivan
|
|
|
|
/s/ K. E.
White, Jr.
|
|
Director
|
November 30,
2009
|
K. E. White,
Jr.
|
|
|
|
EXHIBIT
INDEX
**1.1
|
Form of
Underwriting Agreement for each of the securities registered
hereby.
|
4.1
|
Restated
Certificate of Incorporation of TETRA Technologies, Inc. (incorporated by
reference to Exhibit 3.1 to the Company’s Registration Statement on Form
S-4 filed on December 27, 1995 (SEC File No.
33-80881)).
|
4.2
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 3.1 to the
Company’s Registration Statement on Form S-4 filed on December 27, 1995
(SEC File No. 33-80881)).
|
4.3
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 3.1(ii) to the
Company’s Annual Report on Form 10-K for the year ended December 31, 2003
filed on March 15, 2004 (SEC File No. 001-13455)).
|
4.4
|
Certificate
of Amendment of Restated Certificate of Incorporation of TETRA
Technologies, Inc. (incorporated by reference to Exhibit 4.5 to the
Company’s Registration Statement on Form S-8 filed on May 4, 2006 (SEC
File No. 333-133790)).
|
4.5
|
Amended and
Restated Bylaws of TETRA Technologies, Inc. (incorporated by reference to
Exhibit 4.6 to the Company’s Registration Statement on Form S-8 filed on
May 4, 2006 (SEC File No. 333-133790)).
|
4.6
|
Certificate
of Designation of Series One Junior Participating Preferred Stock of TETRA
Technologies, Inc., dated October 27, 1998 (incorporated by reference to
Exhibit 2 to the Company’s Registration Statement on Form 8-A filed on
October 28, 1998 (SEC File No. 001-13455)).
|
4.7
|
Rights
Agreement dated October 26, 1998 between the Company and Computershare
Investor Services LLC (as successor in interest to Harris Trust &
Savings Bank), as Rights Agent (incorporated by reference to Exhibit 1 to
the Company’s Registration Statement on Form 8-A filed on October 28, 1998
(SEC File No. 001-13455)).
|
4.8
|
First
Amendment to Rights Agreement dated as of November 6, 2008, by and between
TETRA Technologies, Inc. and Computershare Trust Company, N.A. (as
successor rights agent to Harris Trust and Savings Bank), as Rights Agent
(incorporated by reference to Exhibit 4.1 to the Company’s Form 8-K filed
on November 6, 2008 (SEC File No. 001-13455)).
|
4.9
|
Specimen
Common Stock Certificate of TETRA Technologies, Inc. (incorporated by
reference to Exhibit 4.1 to the Company’s Registration Statement on Form
S-1 filed on February 23, 1990 (SEC File No.
33-33586)).
|
4.10
|
Master Note
Purchase Agreement, dated September 27, 2004 by and among TETRA
Technologies, Inc. and Jackson National Life Insurance Company,
Massachusetts Mutual Life Insurance Company, C.M. Life Insurance Company,
Allstate Life Insurance Company, Teachers Insurance and Annuity
Association of America, Pacific Life Insurance Company, the Prudential
Assurance Company Limited (PAC), and Panther CDO II, B.V. (incorporated by
reference to Exhibit 4.1 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.11
|
Form of 5.07%
Senior Notes, Series 2004-A, due September 30, 2011 (incorporated by
reference to Exhibit 4.2 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.12
|
Form of 4.79%
Senior Notes, Series 2004-B, due September 30, 2011 (incorporated by
reference to Exhibit 4.3 to the Company’s Form 8-K filed on September 30,
2004 (SEC File No. 001-13455)).
|
4.13
|
Form of
Subsidiary Guaranty dated September 27, 2004, executed by TETRA Applied
Holding Company, TETRA International Incorporated, TETRA Micronutrients,
Inc., TETRA Process Services, Inc., TETRA Thermal, Inc., Maritech
Resources, Inc., Seajay Industries, Inc., TETRA Investment Holding Co.,
Inc., TETRA Financial Services, Inc., Compressco, Inc., Providence Natural
Gas, Inc., TETRA Applied LP, LLC, TETRA Applied GP, LLC, TETRA Production
Testing GP, LLC, TPS Holding Company, LLC, T Production Testing, LLC,
TETRA Real Estate, LLC, TETRA Real Estate, LP, Compressco Testing, L.L.C.,
Compressco Field Services, Inc., TETRA Production Testing Services, L.P.,
and TETRA Applied Technologies, L. P., for the benefit of the holders of
the Notes (incorporated by reference to Exhibit 4.4 to the Company’s Form
8-K filed on September 30, 2004 (SEC File No.
001-13455)).
|
4.14
|
First
Supplement to Master Note Purchase Agreement, dated April 18, 2006, by and
among TETRA Technologies, Inc. and Jackson National Life Insurance
Company, Allianz Life Insurance Company of North America, United of Omaha
Life Insurance Company, Mutual of Omaha Insurance Company, CUNA Mutual
Life Insurance Company, CUNA Mutual Insurance Society, CUMIS Insurance
Society, Inc., Members Life Insurance Company, and Modern Woodmen of
America, attaching the form of the 5.90% Senior Notes, Series 2006-A, due
April 30, 2016 as an exhibit thereto (incorporated by reference to Exhibit
4.1 to the Company’s Form 8-K filed on April 20, 2006 (SEC File No.
001-13455)).
|
4.15
|
Note Purchase
Agreement, dated April 30, 2008, by and among TETRA Technologies, inc. and
The Prudential Insurance Company of America, Physicians Mutual Insurance
Company, The Lincoln National Life Insurance Company, The Guardian Life
Insurance Company of America, The Guardian Insurance & Annuity
Company, Inc., Massachusetts Mutual Life Insurance Company, Hakone Fund II
LLC, C.M. Life Insurance Company, Pacific Life Insurance Company, United
of Omaha Life Insurance Company, Companion Life Insurance Company, United
World Life Insurance Company, Country Life Insurance Company, The Ohio
National Life Insurance Company and Ohio National Life Assurance
Corporation (incorporated by reference to Exhibit 4.1 to the Company’s
Form 8-K filed on May 5, 2008 (SEC File No.
001-13455)).
|
4.16
|
Form of 6.30%
Senior Notes, Series 2008-A, due April 30, 2013 (incorporated by reference
to Exhibit 4.2 to the Company’s Form 8-K filed on May 5, 2008 (SEC File
No. 001-13455)).
|
4.17
|
Form of 6.56%
Senior Notes, Series 2008-B, due April 30, 2015 (incorporated by reference
to Exhibit 4.3 to the Company’s Form 8-K filed on May 5, 2008 (SEC File
No. 001-13455)).
|
4.18
|
Form of
Subsidiary Guarantee dated as of April 30, 2008, executed by Beacon
Resources, LLC, Compressco Field Services, Inc., EPIC Diving and Marine
Services, LLC, Maritech Resources, Inc., TETRA Applied Technologies, LLC,
TETRA International Incorporated, TETRA Process Services, L.C., TETRA
Production Testing Services, LLC, and Maritech Timbalier Bay, LP, for the
benefit of the holders of the Notes (incorporated by reference to Exhibit
4.4 to the Company’s Form 8-K filed on May 5, 2008 (SEC File No.
0001-13455)).
|
**4.19
|
Form of
Certificate of Designation for the Preferred Stock.
|
**4.20
|
Specimen
Preferred Stock Certificate of TETRA Technologies, Inc.
|
*4.21
|
Form of
Senior Indenture (including form of senior debt
security).
|
*4.22
|
Form of
Subordinated Indenture (including form of subordinated debt
security).
|
**4.23
|
Form of
Warrant Agreement (including form of warrant
certificate).
|
**4.24
|
Form of Unit
Agreement (including form of unit certificate).
|
*5.1
|
Opinion of
Andrews Kurth LLP regarding legality of securities to be
registered.
|
*12.1
|
Statement of
computation of ratios of earnings to fixed charges.
|
*23.1
|
Consent of
Andrews Kurth LLP (included in Exhibit 5.1).
|
*23.2
|
Consent of
Ernst & Young LLP.
|
*23.3
|
Consent of
Ryder Scott Company, L.P.
|
*23.4
|
Consent of
DeGolyer and MacNaughton.
|
*24.1
|
Power of
Attorney (included on signature pages).
|
*25.1
|
Form T-1
Statement of Eligibility and Qualification of Trustee under Trust
Indenture Act of 1939 regarding the senior debt
securities.
|
*25.2
|
Form T-1
Statement of Eligibility and Qualification of Trustee under Trust
Indenture Act of 1939 regarding the subordinated debt
securities.
|
________________
**
|
To be filed
by amendment or as an exhibit to Current Report on Form 8-K filed at a
later date in connection with a specific
offering.
|