Keane Group (FRAC) IPO Prices at $19/Share

Keane Group, Inc. (NYSE: FRAC) announced today the pricing of its initial public offering of 26,760,000 shares of its common stock at a public offering price of $19.00 per share. 15,700,000 of the shares are being offered by the Company and 11,060,000 shares are being offered by the selling stockholder. The selling stockholder has also granted the underwriters a 30-day over-allotment option to purchase an additional 4,014,000 shares of the Company's common stock.

The shares are expected to begin trading on the New York Stock Exchange (NYSE) on January 20, 2017, under the symbol "FRAC," and the offering is expected to close on January 25, 2017, subject to customary closing conditions.

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 shares 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.

Headquartered in Houston, Texas, Keane is one of the largest pure-play providers of integrated well completion services in the U.S., with a focus on complex, technically demanding completion solutions. Keane's primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions, as well as other value-added service offerings. Keane prides itself on its outstanding employee culture, its efficiency and its ability to meet and exceed the expectations of its customers and communities in which it operates.

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