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Nine Energy Service sets terms for $151 million IPO

January 9, 2018
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Nine Energy Service, which provides well completion and production services, announced terms for its IPO on Tuesday.

The Houston, TX-based company plans to raise $151 million by offering 7 million shares at a price range of $20 to $23. At the midpoint of the proposed range, Nine Energy Service would command a market value of $501 million.

Nine Energy Service was founded in 2013 and booked $469 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol NINE. J.P. Morgan, Goldman Sachs, Wells Fargo Securities, BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of January 15, 2018.