Mammoth Energy Services, which provides oilfield services in the Utica Shale and Permian Basin, announced terms for its IPO on Monday.
The Oklahoma City, OK-based company plans to raise $128 million by offering 7.75 million shares (3% insider) at a price range of $15 to $18. At the midpoint of the proposed range, Mammoth Energy Services would command a market value of $619 million.
Mammoth Energy Services was formed in 2014 and booked $243 million in revenue for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol TUSK. Credit Suisse, Barclays and Simmons & Co. are the joint bookrunners on the deal. It is expected to price during the week of October 10, 2016.
