Flowco Holdings Inc., a provider of production optimization, artificial lift, and methane abatement solutions, announced the launch of its proposed initial public offering on January 6, 2025. The company plans to offer 17,800,000 shares of its Class A common stock. Underwriters will also have a 30-day option to purchase up to an additional 2,670,000 shares.
The initial public offering price is currently expected to be between $21.00 and $23.00 per share. Flowco has applied to list its Class A common stock on The New York Stock Exchange under the symbol 'FLOC'. This move signifies a major step for the company to access public capital markets.
Flowco intends to use the net proceeds from the offering to repay indebtedness under its existing credit agreement and redeem certain equity interests from non-affiliate holders. The remaining proceeds will be allocated for general corporate purposes. This capital raise is crucial for the company's financial restructuring and future growth initiatives.
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