ProPetro Launches Public Offering of Shares

MT Newswires Live

01/27

ProPetro Holding (PUMP) said late Monday it has launched an underwritten public offering of 12.5 million shares, with Goldman Sachs as book-running manager.

The company said it expects to grant its underwriters a 30-day option to buy up to almost 1.9 million additional shares.

The firm said it plans to use the proceeds for general corporate purposes, including for more power generation equipment.

Shares were down over 7% in extended trading.

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