Mammoth Energy Services Inc. completed its IPO of about 7.75 million common shares priced at $15 each, of which 7.5 million were offered by Mammoth and 250,000 were offered by certain selling stockholders.
The common stock began trading on NASDAQ under the ticker “TUSK” on Oct. 14, Mammoth said Oct. 19.
Underwriters have a 30-day option to purchase about 1.16 million additional shares, all of which would be sold by the selling stockholders.
Mammoth will receive about $103.2 million in net proceeds after underwriting discounts, commissions and estimated expenses.
On the Oct. 19 closing date, Mammoth repaid the outstanding revolving credit facility borrowings. The remaining net proceeds will support other general corporate purposes. Mammoth did not receive any proceeds from the sale of the shares by the selling stockholders.
Credit Suisse Securities (USA) LLC was the book-running manager, and Barclays Capital Inc. and Piper Jaffray & Co. were joint book-running managers.
Mammoth Energy Services Inc. is based in Oklahoma City.
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