Liberty Oilfield Services Inc. said Jan. 2 it will resume its IPO efforts with a proposed offering to raise up to $197.1 million.
The Denver-based fracking service company originally filed a $250 million IPO in early 2017 before it eventually decided to postpone the offering. In October, Liberty positioned itself for future growth with a new $175 million loan and $250 million credit facility.
Liberty's proposed offering consists of about 10.7 million shares of its common stock at an anticipated price between $14 and $16 per share, according to the company release. The offering includes a roughly 1.6 million share greenshoe.
The company plans to list its shares on the New York Stock Exchange under the ticker symbol “LBRT,” subject to official notice of issuance.
Morgan Stanley, Goldman Sachs & Co. LLC, Wells Fargo Securities, Citigroup, J.P. Morgan and Evercore ISI are joint book-running managers for the proposed offering.
Recommended Reading
Defeating the ‘Four Horsemen’ of Flow Assurance
2024-04-18 - Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production—and keep the cash flowing.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
2024-04-15 - Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.
AI Poised to Break Out of its Oilfield Niche
2024-04-11 - At the AI in Oil & Gas Conference in Houston, experts talked up the benefits artificial intelligence can provide to the downstream, midstream and upstream sectors, while assuring the audience humans will still run the show.
2023-2025 Subsea Tieback Round-Up
2024-02-06 - Here's a look at subsea tieback projects across the globe. The first in a two-part series, this report highlights some of the subsea tiebacks scheduled to be online by 2025.
Axis Energy Deploys Fully Electric Well Service Rig
2024-03-13 - Axis Energy Services’ EPIC RIG has the ability to run on grid power for reduced emissions and increased fuel flexibility.