Global Geophysical Services, which provides high resolution 3D seismic data to oil and gas exploration companies, raised $90 million by selling 7.5 million shares at $12 after originally planning to sell 11.5 million shares at a range of $15-$17. Primary IPO proceeds fell to $84 million from the previously expected $112 million, which was attributable solely to the 25% cut in price, as the change in number of shares was wholly represented by reduced insider selling. Global Geophysical will begin trading on the NYSE tomorrow under the symbol GGS. Credit Suisse and Barclays Capital acted as the lead managers on the deal.
