ProFrac’s $288 Million Initial Public Offering

Vinson & Elkins advised ProFrac, while Latham & Watkins advised the underwriters in the offering.

ProFrac Holding Corp. (ProFrac) has announced the pricing of its initial public offering of 16,000,000 shares of its Class A common stock at US$18 per share. The shares are traded on the Nasdaq Global Select Market under the ticker symbol “PFHC.” In addition, ProFrac granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of its Class A common stock. The offering is expected to close on May 17, 2022, subject to customary closing conditions.

ProFrac Holding Corp. is a growth-oriented, vertically integrated and innovation-driven energy services company providing hydraulic fracturing, completion services and other complementary products and services to leading upstream oil and gas companies engaged in the exploration and production (“E&P”) of North American unconventional oil and natural gas resources.

J.P. Morgan Securities LLC, Piper Sandler & Co., Morgan Stanley & Co. LLC, BofA Securities, Inc., Capital One Securities, Inc., Seaport Global Securities LLC, Stifel, Nicolaus & Company, Incorporated and Johnson Rice & Company L.L.C. acted as underwriters for the offering.

Latham & Watkins advised the underwriters in the offering with a corporate deal team led by Austin partner David Miller (Picture), New York partner Jason Ewart, and Houston partner Monica White, with Houston associates Jessica Sherman, Sarah Dunn, and Nathaniel Bass and New York associate Jacob Weiner. Advice was also provided on tax matters by Houston partner Bryant Lee and Houston associate Emily Fawcett; and on environmental matters by Los Angeles counsel Joshua Marnitz.

The V&E corporate team was led by partners Mike Telle and Scott Rubinsky, senior associates Amy Deroo and Jing Tong and associates Walt Baker, Phil Greenfield, Chloe Schmergel, Elisie Lee and Emily Kercheville. Other key team members include partner Lina Dimachkieh, senior associate Brian Russell and associate Lauren Nieman; partner Guy Gribov, counsel Caitlin Lawrence, senior associate Alex Kamel and associate Joe Higdon; partner David D’Alessandro, counsel Dario Mendoza and associate Madison Riddick; and partner Matt Dobbins and associate Simon Willis.

 

Involved fees earner: Nathaniel Bass – Latham & Watkins; Sarah Dunn – Latham & Watkins; Jason Ewart – Latham & Watkins; Emily Fawcett – Latham & Watkins; Bryant Lee – Latham & Watkins; Joshua Marnitz – Latham & Watkins; David Miller – Latham & Watkins; Jessica Sherman – Latham & Watkins; Jacob Weiner – Latham & Watkins; Monica White – Latham & Watkins; Walt Baker – Vinson & Elkins LLP; Amy Deroo – Vinson & Elkins LLP; Lina Dimachkieh – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; David D’Alessandro – Vinson & Elkins LLP; Phillip Greenfield – Vinson & Elkins LLP; Guy Gribov – Vinson & Elkins LLP; Alexander Kamel – Vinson & Elkins LLP; Emily Kercheville – Vinson & Elkins LLP; Caitlin Lawrence – Vinson & Elkins LLP; Elisie Lee – Vinson & Elkins LLP; Dario Mendoza – Vinson & Elkins LLP; Lauren Nieman – Vinson & Elkins LLP; Maddison Riddick – Vinson & Elkins LLP; Scott Rubinsky – Vinson & Elkins LLP; Brian Russell – Vinson & Elkins LLP; Chloe Schmergel – Vinson & Elkins LLP; Michael Telle – Vinson & Elkins LLP; Jing Tong – Vinson & Elkins LLP; Simon Willis – Vinson & Elkins LLP;

Law Firms: Latham & Watkins; Vinson & Elkins LLP;

Clients: Bank of America Securities; Capital One Securities; J.P. Morgan Securities LLC; Johnson Rice & Company; Morgan Stanley; Piper Sandler; ProFrac Holdings; Seaport Global Securities, LLC; Stifel, Nicolaus & Company, Incorporated;