Shares of Nabors Industries Ltd. sank 4.1% in very active premarket trade Thursday, after the oil services company announced the pricing of a relatively large common stock offering at a discount. Trading volume was 10.7 million shares, which was already above the full-day average of 8.2 million shares, and enough to make the stock the most actively traded before the open. The company said it priced an offering of 35 million common shares, which amounts to 11% of the shares outstanding as of April 27, at $7.75. That was 3.5% below Wednesday's closing price of $7.75. Separately, the company priced its 5 million, 6% mandatory convertible preferred shares at $50 a share. The company expects proceeds of $521.3 million from the offerings, and plans to use the proceeds to pay down debt and for general corporate purposes. The stock has soared 23% over the past three months, while the VanEck Oil Services ETF has hiked up 18% and the S&P 500 has gained 3%.