Flowco Holdings Inc. Announces Closing of Initial Public Offering
18 January 2025 - 8:05AM
Business Wire
Flowco Holdings Inc. (“Flowco”), a provider of production
optimization, artificial lift and methane abatement solutions for
the oil and natural gas industry, today announced the closing of
its initial public offering of 20,470,000 shares of its Class A
common stock at a public offering price of $24.00 per share,
including the full exercise by the underwriters of their option to
purchase up to an additional 2,670,000 shares of Class A common
stock from Flowco at the initial public offering price, less
underwriting discounts and commissions. Flowco’s Class A common
began trading on the New York Stock Exchange on January 16, 2025
under the ticker symbol “FLOC.”
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 acted as
lead bookrunning managers for the proposed offering. BMO Capital
Markets, Pareto Securities and TPH&Co., the energy business of
Perella Weinberg Partners, acted as joint book-running managers.
Fearnley Securities and Pickering Energy Partners acted as
co-managers.
The offering was made only by means of a prospectus. A copy of
the prospectus relating to the offering may be obtained from: J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com; or
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at
(877) 821-7388; or by email at Prospectus_Department@Jefferies.com;
or Piper Sandler & Co., Attn: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis, Minnesota 55402; by phone at
(800) 747-3924; or by email at prospectus@psc.com; or Evercore
Group, L.L.C., Attention: Equity Capital Markets, 55 East 52nd
Street, 35th Floor, New York, New York 10055, or by telephone at
(888) 474-0200 or email: ecm.prospectus@evercore.com.
A registration statement relating to these securities was 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20250117484127/en/
Investor Contact: Jon Byers
investor.relations@flowco-inc.com
Media Contact: Niki Sikinger
Niki.Sikinger@flowco-inc.com
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