Keane Group Launches IPO; Plan to Offer 15.3M Shares at $17-$19, List Under Ticker 'FRAC'

Keane Group, Inc. announced today the commencement of its initial public offering of 15,300,000 shares of its common stock, at an anticipated initial public offering price between $17.00 and $19.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The selling stockholder named in the registration statement is selling 1,400,000 shares of the Company's common stock in the offering. The selling stockholder also expects to grant the underwriters a 30-day over-allotment option to purchase an additional 2,505,000 shares of the Company's common stock. The Company has been approved to list its common stock on the New York Stock Exchange (NYSE) under the symbol "FRAC," subject to official notice of issuance.

The Company intends to use the net proceeds from the offering received by it to repay certain outstanding debt, to pay fees and expenses related to the offering and the remainder for general corporate purposes. The Company will not receive any proceeds from the offering of the common stock by the selling stockholder.

Citigroup, Morgan Stanley, BofA Merrill Lynch, and J.P. Morgan are acting as joint book-running managers for the proposed offering. Wells Fargo Securities, Piper Jaffray & Co. and Houlihan Lokey are acting as senior co-managers for the proposed offering. Guggenheim Securities, Scotia Howard Weil and Stephens Inc. are acting as co-managers for the proposed offering.

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• Advent Technologies (ADN) Receives Nasdaq Notice on Late Filing of its Form 10-K
• Staffing 360 Solutions (STAF) Receives Nasdaq Non-compliance Notice