BUZZ-ProPetro slides after boosted $150 mln equity raise
Goldman Sachs Group, Inc. GS | 840.54 | +0.58% |
ProPetro Holding PUMP | 14.46 | -2.66% |
** Oilfield services provider ProPetro PUMP.N shares down 6.7% at $10.38 after upsized $150 mln equity raise
** Midland, Texas-based firm early Tues announced pricing 15 mln share offering at $10
** Offering size increased from 12.5 mln shares, priced at 10.1% discount to stock's last close
** Co intends to use net offering proceeds for general corporate purposes, including to fund growth capital for additional power generation equipment
** Goldman Sachs lead bookrunner, joined by Barclays, JP Morgan and BofA
** After the bell Mon, co said it expects Q4 rev of $281-$291 mln, above Wall Street consensus of ~$275 mln, per LSEG data
** Co had about 105 mln shares prior to offering, per the prospectus
** Through Mon, shares up 17% to begin 2026 and up about 80% over the past six months
** 4 of 9 analysts rate the stock "strong buy" or "buy", 5 "hold"; median PT $12, per LSEG data
