Smart Sand (SND) IPO Opens Lower
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Today's IPO for Smart Sand (NYSE: SND) opened for trading at $10.30 after pricing 11,700,000 shares of its common stock at $11.00 per share, all of which are to be sold by the Company.
Credit Suisse, Goldman, Sachs & Co. and Jefferies are acting as book-running managers for the proposed initial public offering. Additional book-running managers are Piper Jaffray & Co., Tudor, Pickering, Holt & Co. and Deutsche Bank Securities.
Smart Sand, Inc. is a pure-play, low-cost producer of high-quality Northern White raw frac sand, which is a preferred proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. Northern White raw frac sand, which is found predominantly in Wisconsin and limited portions of Minnesota and Illinois, is highly valued by oil and natural gas producers as a preferred proppant due to its favorable physical characteristics.
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Related EntitiesCredit Suisse, Piper Jaffray, Deutsche Bank, Jefferies & Co, IPO
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