ProPetro Holding Corp. Commences Initial Public Offering

MIDLAND, Texas--()--ProPetro Holding Corp. (the “Company”) has commenced an initial public offering of 20,000,000 shares of its common stock, of which 10,631,300 shares are to be sold by the Company and 9,368,700 shares are to be sold by the selling stockholders named in the registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (“SEC”). The anticipated initial offering price is between $16.00 and $19.00 per share, and the offering is being made pursuant to the registration statement. The selling stockholders expect to grant the underwriters a 30-day option to purchase from the selling stockholders up to an additional 3,000,000 shares of the Company’s common stock. The Company’s shares of common stock are expected to trade on the New York Stock Exchange under the ticker symbol “PUMP.”

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.

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.

The proposed initial public offering is being made only by means of a written prospectus. Once it becomes available, potential investors can obtain a written prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from:

Goldman, Sachs & Co.

Attention: Prospectus Department

200 West Street

New York, NY 10282

Telephone: 1-866-471-2526

Email: prospectus-ny@ny.email.gs.com

 

Barclays Capital Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: 888-603-5847

Email: barclaysprospectus@broadridge.com

 

Credit Suisse Securities (USA) LLC

Attention: Prospectus Department

One Madison Avenue

New York, New York 10010

Telephone: 800-221-1037

Email: newyork.prospectus@credit-suisse.com

J.P. Morgan Securities LLC

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Attention: Prospectus Department

Telephone: 1-866-803-9204

Email: prospectus-eq_fi@jpmchase.com

 

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, to obtain a copy of the prospectus free of charge, visit the SEC’s website, www.sec.gov, and search under the registrant’s name, “ProPetro Holding Corp.”

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that do not relate to historical matters identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant, the Company’s shares of common stock may not begin trading on the New York Stock Exchange as expected and the offering may not close as expected. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of the prospectus included in the registration statement on Form S-1, in the form last filed with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

About ProPetro:

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.

Contacts

ProPetro Holding Corp.
Sam Sledge, 432-688-0012
Investor Relations
sam.sledge@propetroservices.com
or
Jeffrey Smith, 432-688-0012
Chief Financial Officer
jeff.smith@propetroservices.com

Contacts

ProPetro Holding Corp.
Sam Sledge, 432-688-0012
Investor Relations
sam.sledge@propetroservices.com
or
Jeffrey Smith, 432-688-0012
Chief Financial Officer
jeff.smith@propetroservices.com