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.
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