Flowco Holdings Inc. Announces Pricing of Initial Public Offering
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.
Flowco Holdings, fornitore di soluzioni per l'ottimizzazione della produzione, sollevamento artificiale e riduzione del metano per l'industria petrolifera e del gas, ha annunciato il prezzo della sua Offerta Pubblica Iniziale (IPO). L'azienda offre 17.800.000 azioni di azioni ordinarie di Classe A a $24,00 per azione, con i sottoscrittori che hanno un'opzione di acquisto di ulteriori 2.670.000 azioni per un periodo di 30 giorni.
Le negoziazioni dovrebbero iniziare sulla New York Stock Exchange il 16 gennaio 2025, sotto il simbolo ticker FLOC. Si prevede che l'offerta si chiuda il 17 gennaio 2025. L'azienda prevede di utilizzare i proventi netti per riscattare determinati interessi patrimoniali da parte di detentori non affiliati e per ripagare il debito esistente relativo agli accordi di credito.
L'IPO è guidata da J.P. Morgan, Jefferies, Piper Sandler ed Evercore ISI come principali manager di bookrunning, con BMO Capital Markets, Pareto Securities e TPH&Co. che fungevano da manager di bookrunning congiunti.
Flowco Holdings, un proveedor de soluciones de optimización de producción, elevación artificial y reducción de metano para la industria del petróleo y gas, ha anunciado el precio de su Oferta Pública Inicial (IPO). La compañía está ofreciendo 17,800,000 acciones de acciones ordinarias de Clase A a $24.00 por acción, con los suscriptores teniendo una opción de 30 días para comprar hasta 2,670,000 acciones adicionales.
Se espera que el comercio comience en la Bolsa de Nueva York el 16 de enero de 2025, bajo el símbolo de ticker FLOC. Se prevé que la oferta cierre el 17 de enero de 2025. La compañía planea utilizar los ingresos netos para reembolsar ciertos intereses de capital de tenedores no afiliados y para pagar la deuda existente relacionada con el acuerdo de crédito.
La IPO está liderada por J.P. Morgan, Jefferies, Piper Sandler y Evercore ISI como principales gerentes de bookrunning, con BMO Capital Markets, Pareto Securities y TPH&Co. actuando como gerentes de bookrunning conjuntos.
Flowco Holdings는 석유 및 가스 산업을 위한 생산 최적화, 인공 리프트 및 메탄 감축 솔루션 제공업체로, 상장공모(IPO) 가격을 발표했습니다. 회사는 17,800,000 주의 클래스 A 보통주를 주당 $24.00에 제공하며, 인수인들은 30일 이내에 추가로 2,670,000 주를 구매할 수 있는 옵션이 있습니다.
거래는 2025년 1월 16일 뉴욕 증권 거래소에서 FLOC라는 심볼로 시작될 것으로 예상되며, 공모는 2025년 1월 17일에 마감될 예정입니다. 회사는 순이익을 사용하여 비공식 주주의 특정 지분을 매입하고 기존 신용 계약의 부채를 상환할 계획입니다.
이 IPO는 J.P. Morgan, Jefferies, Piper Sandler 및 Evercore ISI가 주관하며, BMO Capital Markets, Pareto Securities 및 TPH&Co.가 공동 주관으로 참여합니다.
Flowco Holdings, un fournisseur de solutions d'optimisation de production, de levage artificiel et de réduction du méthane pour l'industrie pétrolière et gazière, a annoncé le prix de son Introduction en Bourse (IPO). L'entreprise propose 17 800 000 actions ordinaires de Classe A au prix de 24,00 $ par action, les souscripteurs ayant une option de 30 jours pour acheter jusqu'à 2 670 000 actions supplémentaires.
Les négociations devraient commencer sur la Bourse de New York le 16 janvier 2025, sous le symbole boursier FLOC. L'offre devrait se clore le 17 janvier 2025. L'entreprise prévoit d'utiliser les produits nets pour racheter certains intérêts d'équité de détenteurs non affiliés et rembourser la dette existante liée à un accord de crédit.
L'IPO est dirigée par J.P. Morgan, Jefferies, Piper Sandler et Evercore ISI en tant que principaux gestionnaires de livre, avec BMO Capital Markets, Pareto Securities et TPH&Co. en tant que co-gestionnaires de livre.
Flowco Holdings, ein Anbieter von Lösungen zur Produktionsoptimierung, künstlichem Fördern und Methanreduzierung für die Öl- und Gasindustrie, hat die Preisgestaltung seiner Börsengang (IPO) bekannt gegeben. Das Unternehmen bietet 17.800.000 Aktien der Klasse A zu einem Preis von 24,00 $ pro Aktie an, wobei die Emissionsbanken eine 30-tägige Option haben, bis zu 2.670.000 zusätzliche Aktien zu erwerben.
Der Handel wird voraussichtlich am New York Stock Exchange am 16. Januar 2025 unter dem Tickersymbol FLOC beginnen. Die Emission sollte am 17. Januar 2025 abgeschlossen sein. Das Unternehmen plant, die Nettoerlöse zu nutzen, um bestimmte Eigenkapitalinteressen von nicht angeschlossenen Inhabern einzulösen und bestehende Schulden aus Kreditvereinbarungen zurückzuzahlen.
Der IPO wird von J.P. Morgan, Jefferies, Piper Sandler und Evercore ISI als führenden Bookrunning-Managern geleitet, während BMO Capital Markets, Pareto Securities und TPH&Co. als Joint Bookrunning-Manager fungieren.
- IPO priced at $24.00 per share, raising approximately $427.2 million (before additional shares option)
- Proceeds will be used to reduce debt and improve capital structure
- Strong syndicate of investment banks supporting the offering
- Proceeds not allocated to growth initiatives or operations
- Significant portion of proceeds going to existing equity holders rather than company development
Insights
This IPO represents a significant market entry with a total offering value of
The underwriting syndicate's composition, led by top-tier banks like J.P. Morgan and Jefferies, indicates robust distribution capabilities and institutional backing. The intended use of proceeds for equity redemption and debt reduction suggests a strategic focus on optimizing capital structure rather than operational expansion, which could improve financial metrics post-IPO.
The company's positioning in production optimization and methane abatement solutions aligns well with current industry focus on operational efficiency and environmental compliance, potentially commanding premium valuations in the energy services sector.
Flowco's market debut comes at a strategic time when the oil and gas industry faces increasing pressure for methane emission reduction and operational efficiency. Their specialization in artificial lift technology and methane abatement solutions addresses two critical industry needs: maximizing well production and meeting environmental regulations.
The timing of this IPO aligns with increased capital spending in the energy sector, particularly in technologies that optimize existing well production rather than new drilling. For investors, this represents exposure to the energy sector's operational efficiency segment rather than direct commodity price exposure, offering a potentially more stable revenue profile.
The choice of NYSE listing provides maximum visibility and liquidity, while the diverse underwriting group, including energy specialists like Pareto Securities and TPH&Co., suggests strong sector-specific distribution capabilities.
Flowco intends to use the net proceeds that it receives from the proposed offering to redeem certain equity interests from certain non-affiliate holders, and with respect to the remainder, repay indebtedness under its existing credit agreement.
J.P. Morgan, Jefferies, Piper Sandler and Evercore ISI are acting as lead bookrunning managers for the proposed offering. BMO Capital Markets, Pareto Securities and TPH&Co., the energy business of Perella Weinberg Partners, are acting as joint book-running managers. Fearnley Securities and Pickering Energy Partners are acting as co-managers.
The proposed offering is made only by means of a prospectus. A copy of the prospectus relating to the proposed offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
A registration statement relating to these securities has been filed with, and declared effective by, the SEC on January 15, 2025. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Flowco
Flowco is a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. The company’s products and services include a full range of equipment and technology solutions that enable oil and natural gas producers to efficiently and cost-effectively maximize the profitability and economic lifespan of their assets.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release may be forward-looking statements. These statements generally relate to future events or our future financial or operating performance and include statements regarding the expected size, timing and results of the initial public offering. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Flowco believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Flowco’s prospectus. Flowco undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250114321910/en/
Investor Contact:
Jon Byers
investor.relations@flowco-inc.com
Media Contact:
Niki Sikinger
Niki.Sikinger@flowco-inc.com
Source: Flowco Holdings Inc.
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