ProFrac Holding Corp. (PFHC) Plans to Raise $360 Million in May 12th IPO

ProFrac Holding Corp. (PFHC) plans to raise $360 million in an initial public offering on Thursday, May 12th, IPO Scoop reports. The company will be issuing 16,000,000 shares at $21.00-$24.00 per share.

In the last year, ProFrac Holding Corp. generated $768.4 million in revenue and had a net loss of $43.5 million. ProFrac Holding Corp. has a market-cap of $3.2 billion.

ProFrac Holding Corp. provided the following description of their company for its IPO: “We are a growth-oriented, vertically integrated and innovation-driven energy services company providing hydraulic fracturing, completion services and other complementary products and services to leading upstream oil and gas companies engaged in the exploration and production (“E&P”) of North American unconventional oil and natural gas resources. Founded in 2016, ProFrac was built to be the go-to service provider for E&P companies’ most demanding hydraulic fracturing needs. We are focused on employing new technologies to significantly reduce “greenhouse gas” (“GHG”) emissions and increase efficiency in what has historically been an emissions-intensive component of the unconventional E&P development process. We believe the technical and operational capabilities of our fleets ideally position us to capture increased demand resulting from the market recovery and our customers’ shifting preferences favoring the sustainable development of natural resources. Our operations are primarily focused in the West Texas, East Texas/Louisiana, South Texas, Oklahoma, Uinta and Appalachian regions, where we have cultivated deep and longstanding customer relationships with some of those regions’ most active E&P companies. We operate in three business segments: stimulation services, manufacturing and proppant production. We believe we are the largest privately owned, and second largest overall, provider of hydraulic fracturing services in North America by hydraulic horsepower (“HHP”), with aggregate installed capacity of over 1.7 million HHP across 34 conventional fleets, of which, as of March 31, 2022, 31 were active, reflecting a net installed capacity of approximately 1.5 million HHP across our active fleets. We believe a greater percentage of our conventional fleets prior to the FTSI Acquisition incorporated lower-emission Tier IV diesel engines relative to our peers, making them among the most emissions-friendly and capable in the industry. Further, we believe that because of those fleets’ capabilities and reliability, and our relentless focus on efficient and environmentally-sound energy service solutions, our high-quality customer base views us as an integral partner in their efforts to improve their environmental, social and governance (“ESG”) profiles without sacrificing service quality. (Note: ProFrac Holding Corp. updated its IPO prospectus in an S-1/A filing dated April 26, 2022, but no terms have been filed yet. The S-1 was filed on Nov. 22, 2021.)   “.

ProFrac Holding Corp. was founded in 2016 and has 2522 employees. The company is located at 333 Shops Boulevard, Suite 301 Willow Park, Texas 76087 and can be reached via phone at (254) 776-3722 or on the web at http://www.profrac.com.

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