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Flowco Holdings, a provider of production optimization, artificial lift and methane abatement solutions for the oil and gas industry, has announced the pricing of its Initial Public Offering (IPO). The company is offering 17,800,000 shares of Class A common stock at $24.00 per share, with underwriters having a 30-day option to purchase up to an additional 2,670,000 shares.
Trading is expected to begin on the New York Stock Exchange on January 16, 2025, under the ticker symbol FLOC. The offering should close on January 17, 2025. The company plans to use the net proceeds to redeem certain equity interests from non-affiliate holders and repay existing credit agreement debt.
The IPO is led by J.P. Morgan, Jefferies, Piper Sandler, and Evercore ISI as lead bookrunning managers, with BMO Capital Markets, Pareto Securities, and TPH&Co. serving as joint book-running managers.