Independence Contract Drilling Inc. (NYSE: ICD) priced its IPO of 10 million common shares at $11 each, the company said Aug. 7.
The shares began trading under the symbol “ICD” on the New York Stock Exchange, the company added.
Underwriters were given a monthlong option to purchase up to 1.5 million additional shares to cover overallotments, Independence said.
The offer is scheduled to close Aug. 13, the company noted.
Morgan Stanley (NYSE: MS), RBC Capital Markets and Tudor, Pickering, Holt & Co. are book-running managers. Canaccord Genuity Group Inc. (TO: CF.TO), Capital One Securities, Cowen and Co., FBR & Co. (NASDAQ: FBRC), Iberia Capital Partners LLC and Johnson Rice & Co. LLC are co-managers, Independence said.
Houston-based Independence Contract Drilling Inc. provides land-based contract drilling services for domestic oil and natural gas producers.
Recommended Reading
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.
BCCK, Vision RNG Enter Clean Energy Partnership
2024-04-23 - BCCK will deliver two of its NiTech Single Tower Nitrogen Rejection Units (NRU) and amine systems to Vision RNG’s landfill gas processing sites in Seneca and Perry counties, Ohio.
Clean Energy Begins Operations at South Dakota RNG Facility
2024-04-23 - Clean Energy Fuels’ $26 million South Dakota RNG facility will supply fuel to commercial users such as UPS and Amazon.
Romito: Net Zero’s Costly Consequences, and Industry’s ‘Silver Bullet’
2024-04-22 - Decarbonization is generally considered a reasonable goal when presented within the context of a trend, as opposed to a regulatory absolute.