Page 30: of Marine Technology Magazine (July 2012)

The Case The Case The overriding news for emerging and fast growing subsea industry powerhouse Forum Energy Technologies, Inc. was the completion in the Spring of 2012 of its its initial public offering (IPO) of its common stock at $20.00 per share. Net proceeds received by the company from the sale of the 13,889,470 shares of common stock were approximately $258m after deducting underwriting discounts and estimated offering expenses. The company used the net proceeds to repay outstanding borrowings under the revolving portion of its credit facility. The company did not receive any proceeds from the sale of shares by the selling stockholders.J.P. Morgan, BofA Merrill Lynch, Credit Suisse, Citigroup and Deutsche Bank Securities acted as joint book-running managers for the offering. Simmons & Company International and Tudor, Pickering, Holt & Co. acted as senior co-managers for the offer- ing. Capital One Southcoast, Dahlman Rose & Company, FBR, Howard Weil Incorporated and Johnson Rice & Company L.L.C. acted as co-managers for the offering. The Tech The Tech While the business end of the diversiÞ ed FET was the news- maker, the headlines continue to be the recent additions to FETÕs ever expanding product portfolio include three from its Subsea Technologies group: Tomahawk : This next-generation Sub-Atlantic Observation ROV and platform offers high reliability and adaptability with- in a small footprint, reducing deck space, capital and operating costs. Tomahawk is fast and agile, sharing the same 35 kilowatt power system and thrusters as Sub-AtlanticÕs largest Comanche ROV. Rated to a depth of 3,000 meters and supporting a payload of 160 kilograms, Tomahawk can be deployed and operated in demanding environments, which makes it ideal for deep-water operations and a variety of tasks, including surveys, well inter- vention and drilling support. Perry T1200 Trencher: Our Perry T1200 Trencher is a heavy trenching system that can produce a trench to a depth of three meters in all seabed conditions, from sand to stiff clays. Capable of deploying non-contacting water jetting tools with back wash and educator debris clearance systems, this cable and pipe burial ROV can carry an optional backÞ ll and pipe following tool. Blowout Preventer Actuation Tool (BOP-AT): Designed to be operated by a workclass ROV with speed and accuracy, our BOP- AT closes the blow out preventer remotely, delivering over 300 liters of ß uid per minute at pressures up to 7500 psi. It fully actu- ates most BOPs in under 45 seconds, which safely and effectively seals the wellbore. 920 Memorial City Way, Suite 1000 920 Memorial City Way, Suite 1000 Houston, TX 77024 Houston, TX 77024 Tel: 281.949.2514 Tel: 281.949.2514 www.f-e-t.com www.f-e-t.com CEO & Chairman of the Board: C. Christopher Gaut President of Drilling, Downhole and Subsea Segment: Charles E. JonesFORUM ENERGY TECHNOLOGIES , INC.FORUM ENERGY TECHNOLOGIES , INC.Perry T1200 Trencher BOP-AT Tomahawk30 MTRJuly/August 2012 MTR #6 (18-33).indd 30MTR #6 (18-33).indd 308/3/2012 9:36:43 AM8/3/2012 9:36:43 AM