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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-C
Report by Issuer of securities Quoted on NASDAQ
Interdealer Quotation System
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 and Rule 13a-17
or 15d-17 thereunder
PONDER INDUSTRIES, INC.
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(Exact name of issuer as specified in charter)
5005 Riverway Drive, Suite 550, Houston, TX 77056
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(Address of principal executive offices)
Issuer's telephone number, including area code (713) 965-0653
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the number of shares
outstanding:
1. Title of Security Common Stock, $.01 par value
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2. Number of shares outstanding before the change 11,303,058
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3. Number of shares outstanding after the change 12,131,347
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4. Effective date of change August 12, 1996
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5. Method of change:
Specify method (such as merger, acquisition exchange, distribution,
stock split, reverse split, acquisition of stock for treasury, etc.)
Issuance of shares
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Give brief description of transaction:
Pursuant to Regulation S of the Securities Act of
1933, as amended, the Company issued $10,950,000 of 8%
Convertible Debentures dated April 26, 1996 (the
"Debentures"). As of August 12, 1996, 828,289 shares of common
stock, $.01 par value of the Company had been issued upon
conversion of the Debentures.
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II. CHANGE IN NAME OF ISSUER
6.Name prior to change N/A
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7.Name after change N/A
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8.Effective date of charter amendment changing name N/A
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9.Date of shareholder approval of change, if required N/A
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Date: August 14, 1996 /s/ Eugene L. Butler
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(Officer's signature)
Title: Executive Vice President and Chief
Financial Officer
