ProPetro Holding to repay $71.8 million term loan via IPO proceeds

By Susanna Moon

Chicago, March 20 – ProPetro Holding Corp. plans to repay $71.8 million under its term loan using proceeds of its initial public offering, according to a 424B4 filing with the Securities and Exchange Commission.

The company plans to sell 13.25 million common shares for proceeds of about $171 million, with about $63.6 million to be used to fund the purchase of additional hydraulic fracturing units and $35.6 million for general corporate purposes.

ProPetro is a growth-oriented, Midland, Texas-based oilfield services company.

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