Hydraulic fracturing company ProFrac Holding Corp. (Nasdaq: PFHC) began trading on the Nasdaq Global Select Market today. The firm’s initial public offering is looking to raise US$288.0 million and is expected to close on May 17, 2022.
The offering consists of 16.0 million common shares selling at US$18.00 per share. The firm said the proceeds will be utilized as such in the prospectus, including repaying outstanding debts and for general corporate purposes.
J.P. Morgan, Piper Sandler and Morgan Stanley act as the joint bookrunners for the said offering. The underwriters were granted a 30-day over-allotment option to purchase additional 2.4 million shares at the same IPO price.
Sponsored · PTX Metals Inc.
The Texas-based energy firm started in May 2016 with “a veteran leadership team” and has now evolved to be the “world’s largest private pressure pumping company.”
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
