ProPetro (PUMP) IPO Prices at $14

ProPetro Holding Corp. (NYSE: PUMP) announced today that it has priced the initial public offering of 25,000,000 shares of its common stock at $14.00 per share, of which 13,250,000 shares are to be sold by the Company and 11,750,000 shares are to be sold by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on March 17, 2017 under the ticker symbol “PUMP.” In addition, the selling stockholders named in the registration statement have granted the underwriters a 30-day option to purchase from the selling stockholders up to an additional 3,750,000 shares of the Company’s common stock at the initial public offering price. The offering is expected to close on March 22, 2017, subject to customary closing conditions.

The Company intends to use the net proceeds it receives from the offering to repay borrowings outstanding under the Company’s term loan, to fund the purchase of additional hydraulic fracturing units and for general corporate purposes. The Company will not receive any net proceeds from the sale by the selling stockholders of shares of the Company’s common stock.

Goldman, Sachs & Co. and Barclays Capital Inc. are acting as book-running managers for the proposed initial public offering. Credit Suisse and J.P. Morgan Securities LLC are also acting as book-running managers for the offering.

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing hydraulic fracturing and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.

You May Also Be Interested In

• SpaceX prices historic IPO at $135/share in largest ever new listing
• PicS N.V. Notice of August 4, 2026 Application Deadline for Class Action Lawsuit - Contact Lewis Kahn, Esq. at Kahn Swick & Foti, LLC, Before Application Deadline
• ZincFive to go public via $752 million SPAC deal with Spark I