FORT WORTH, Texas--(BUSINESS WIRE)--FTS International, Inc. (“FTSI”) (NYSE: FTSI) announced today that the underwriters of its previously announced initial public offering exercised in full their option to purchase an additional 2,925,000 shares of common stock from FTSI at the public offering price of $18.00 per share, less the underwriting discount. The sale of the additional shares is expected to close on February 8, 2018, subject to customary closing conditions.
The option to purchase additional shares was granted to the underwriters in connection with FTSI’s initial public offering of 19,500,000 shares of common stock, of which 15,151,516 shares were sold by FTSI and 4,384,484 shares were sold by a selling stockholder. The initial public offering closed on February 6, 2018.
Credit Suisse and Morgan Stanley acted as the book-running managers. Wells Fargo Securities; Barclays; Citigroup; and Evercore ISI also acted as book-runners. Guggenheim Securities; Simmons & Company International, Energy Specialists of Piper Jaffray; Tudor, Pickering, Holt & Co.; and Cowen acted as co-managers.
A registration statement relating to the offering was declared effective by the Securities and Exchange Commission (the “SEC”) on February 1, 2018. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website http://www.sec.gov. Copies of the final prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 (telephone: 1 (800) 221-1037 or email: firstname.lastname@example.org); or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About FTS International, Inc.
FTS International, Inc. is one of the largest providers of hydraulic fracturing services in North America. Our services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies in shale and other unconventional resource formations.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements.” Forward-looking statements include statements regarding the closing of the overallotment option and other statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods. Forward-looking statements are based on FTSI’s current expectations and assumptions regarding capital market conditions, FTSI’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, FTSI’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks regarding when FTSI can complete the offering, FTSI’s competitive environment and other factors set forth under “Risk Factors” in the registration statement on Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made. FTSI undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.