ProPetro Holding Prices Public Offering Of Shares For US$186 Million

Published: Nov 02 2017
Deal Summary

ProPetro Holding Corp, an oilfield services company, priced and upsized the public offering of 12 million (MM) shares, at a price of US$15.5 per share, for gross proceeds of US$186 MM. In addition, the underwriter will be granted 30-day option to purchase up to an additional 1.8 MM shares. In the offering, shares will be sold by selling stakeholders of the company.

The selling stakeholders are namely, Energy Capital Partners II, LP Energy Capital Partners II-A, LP, Energy Capital Partners II-B, LP, Energy Capital Partners II-C (Direct IP), LP, Energy Capital Partners II-D, LP, and Energy Capital Partners II (Midland Co-Invest), LP.

Goldman Sachs & Co. LLC is acting as book-running manager for the offering.

The offering is expected to close on November 9, 2017, subject to customary closing conditions.

Deal history

Pricing: On November 7, 2017, ProPetro priced and upsized the public offering of 12 MM shares, at a price of US$15.5 per share, for gross proceeds of US$186 MM.

Filing/Announced: On November 2, 2017, ProPetro filed the Form S-1 for the public offering of 10 MM shares.

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