ProPetro Launches 12.5 Million Share Public Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
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Source: seekingalpha
- Public Offering Initiation: ProPetro Holding has announced the commencement of an underwritten public offering of 12.5 million shares of common stock, with a par value of $0.001 per share, which is expected to provide funding for general corporate purposes.
- Clear Use of Proceeds: The net proceeds from this offering will be utilized to fund growth capital for additional power generation equipment, indicating the company's strategic intent to expand its operational capabilities and market competitiveness.
- Additional Share Option: The company expects to grant underwriters a 30-day option to purchase up to an additional 1.87 million shares of common stock, which further enhances the attractiveness of the offering in the market.
- Stock Price Impact: Following the announcement, ProPetro's stock price fell by 4.21% in after-hours trading to $10.67, reflecting a cautious market sentiment regarding the public offering.
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Analyst Views on PUMP
Wall Street analysts forecast PUMP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PUMP is 14.40 USD with a low forecast of 11.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 10.660
Low
11.00
Averages
14.40
High
20.00
Current: 10.660
Low
11.00
Averages
14.40
High
20.00
About PUMP
ProPetro Holding Corp is an integrated energy service company, which is focused on providing hydraulic fracturing, wireline, and other complementary energy and power generation services to upstream oil and gas companies engaged in the exploration and production (E&P) of North American oil and natural gas resources. Its segments include hydraulic fracturing (inclusive of acidizing and wet sand solutions), wireline, cementing and power generation services. Its hydraulic fracturing fleets range from approximately 50,000 to 80,000 HHP depending on the job design and customer demand at the wellsite. It owns and operates a fleet of mobile wireline units and other auxiliary equipment to perform well completion services. It provides cementing services for the completion of new wells and remedial work on existing wells. It has formed PROPWR to provide power generation services to oil and gas producers and for non-oil and gas applications such as general industrial projects and data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ProPetro Prices Upsized Public Offering of 15 Million Shares
- Upsized Offering: ProPetro announced an upsized public offering of 15 million shares, increasing from the initially proposed 12.5 million shares, priced at $10.00 per share, indicating heightened market demand for its stock.
- Clear Use of Proceeds: The net proceeds from this offering will be utilized for general corporate purposes, including funding growth capital for additional power generation equipment, aimed at enhancing the company's operational capacity and market competitiveness.
- Strong Underwriter Lineup: Goldman Sachs serves as the lead underwriter for this offering, with Barclays, J.P. Morgan, and BofA Securities as joint book-running managers, reflecting strong market confidence and support for ProPetro.
- Expected Closing Date: The offering is anticipated to close on January 28, 2026, subject to customary closing conditions, indicating the company's active engagement in capital markets and future growth potential.
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ProPetro Launches 12.5 Million Share Public Offering
- Public Offering Initiation: ProPetro Holding has announced the commencement of an underwritten public offering of 12.5 million shares of common stock, with a par value of $0.001 per share, which is expected to provide funding for general corporate purposes.
- Clear Use of Proceeds: The net proceeds from this offering will be utilized to fund growth capital for additional power generation equipment, indicating the company's strategic intent to expand its operational capabilities and market competitiveness.
- Additional Share Option: The company expects to grant underwriters a 30-day option to purchase up to an additional 1.87 million shares of common stock, which further enhances the attractiveness of the offering in the market.
- Stock Price Impact: Following the announcement, ProPetro's stock price fell by 4.21% in after-hours trading to $10.67, reflecting a cautious market sentiment regarding the public offering.
Continue Reading