ProFrac Holding Corp.
Description
Priced its IPO of 16 million shares of its Class A common stock at $18 per share. Underwriters were granted a 30-day option to purchase up to an additional 2.4 million shares of its Class A common stock. Shares were expected to begin trading on the Nasdaq Global Select Market on May 13 and the offering is expected to close on May 17. Proceeds will be used to repay certain outstanding indebtedness and for general corporate purposes. J.P. Morgan, Piper Sandler and Morgan Stanley are lead book-running managers.