ProFrac Holding, which provides hydraulic fracturing and completion services to upstream E&Ps in North America, has added indications from insiders and delayed its IPO to Friday.
The Willow Park, TX-based company plans to raise $360 million by offering 16 million shares at a price range of $21 to $24. The company was originally scheduled to begin trading on Thursday, and the Wilks family has now indicated an interest in purchasing $117 million worth of shares on the offering (33% of the deal). At the midpoint of the proposed range, ProFrac Holding would command a market cap of $3.2 billion.
The primary shareholder is the Wilks family.
The Willow Park, TX-based company was founded in 2016 and booked $768 million in sales for the 12 months ended December 31, 2021. It had planned to list on the Nasdaq under the symbol PFHC. J.P. Morgan, Piper Sandler, Morgan Stanley, and BofA Securities were set to be the joint bookrunners on the deal.
