Connect with us

Business

Nine Energy Service Inc (NYSE:NINE) Reports Closing Of IPO

Published

on

Nine Energy Service Inc (NYSE:NINE) reported the closing of its IPO of around 8.05 million shares at a public offering price of $23 per share, which included around 1.05 million shares offered upon full exercise of the alternative to buy additional shares given to the underwriters. The shares started trading on the NYSE under the ticker “NINE” on January 19, 2018.

The buzz

J.P. Morgan, Wells Fargo Securities and Goldman Sachs & Co. LLC were joint book-running managers and as underwriters’ representatives for the offering. Credit Suisse and BofA Merrill Lynch also were joint book-running managers for this offering. The offering of the respective securities was done only by way of a prospectus.

Nine Energy is a major North American onshore production and completion services provider that aims unconventional gas and oil resource development. It partners with production and exploration customers throughout key onshore basins in both Canada and the U.S. to deploy and design downhole technology and solutions to set horizontal, multistage wells meant for production. Nine Energy is headquartered in Houston, with operating facilities in the Eagle Ford, MidCon, Permian, Bakken, Rockies, Marcellus, Barnett, Utica and throughout Canada.

SCF Partners reported that Nine Energy successfully completed an IPO of 7 million shares at $23 per share. Moreover, the underwriters have used in full their option to buy up to an additional 1.05 million shares of company’s common stock. Nine’s shares trade on the New York Stock Exchange under the ticker symbol “NINE.”

Nine’s venture into the public markets exhibits a major step in the evolution of the firm as a pioneer in the North American completions segment. The IPO strengthens the firm’s balance sheet and positions it to take advantage of imminent growth opportunities. They are incredibly thankful for and proud of the Nine team and all actions taken to build the firm. The management look forward to this journey ahead as a public firm.

Trading Symbol

OTC: MJMD

The Next Big Global Cannabis Trade




FEATURED STORIES

Business17 hours ago

Is New Age Beverages Corp (NASDAQ:NBEV) Setting Up for Some Interest From Above?

New Age Beverages Corp (NASDAQ:NBEV) is, as we see it, a very logical possibility for some kind of strategic interest,...

Business1 day ago

Why Aurora Cannabis Inc (OTCMKTS:ACBFF) is Set to Benefit from the Narrow US Market

Aurora Cannabis Inc (OTCMKTS:ACBFF) continues to be the top dog in the cannabis space as we see it. Capacity will...

Business2 days ago

Will Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) Evolve From Prey to Predator?

Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) has an extremely strong balance sheet at this point, with cash levels at $261.8M...

Business2 days ago

A Giant Step for OrganiGram Holdings Inc (OTCMKTS:OGRMF)?

OrganiGram Holdings Inc (OTCMKTS:OGRMF) has been one of the more impressive growth stories, moving from a $200-300M name to a...

Business2 days ago

Is CV Sciences Inc (OTCMKTS:CVSI) Back on Track?

CV Sciences Inc (OTCMKTS:CVSI) is possibly beginning to show some renewed signs of life following a period of heavy doubt...

Business3 days ago

Why Canopy Growth Corp (NYSE:CGC) Will Be “Special” During the Pullback

Canopy Growth Corp (NYSE:CGC), like many other recent high-flying stocks in the cannabis space, will be confronting the big day...

PROFILES3 days ago

California cannabis stocks take off after new July 1 regulations

Stocks jump as much as 105% in 30 days…and still rising! Undervalued Chemesis International Inc. (OTC: CADMF / CSE: CSI)...

Business3 days ago

How to Understand the Breakout in Growlife Inc (OTCMKTS:PHOT) Shares

Among the pot stocks on the move this week, one shouldn’t overlook the impressive action in Growlife Inc (OTCMKTS:PHOT). This...

MARKETS3 days ago

Aurora Cannabis Inc (OTCMKTS:ACBFF) Should be on the Pullback Buy List

To say that Aurora Cannabis Inc (OTCMKTS:ACBFF) is one of the leaders in the cannabis space is a bit of...

Business4 days ago

Can PotNetwork Holdings Inc (OTCMKTS:POTN) Recapture the Magic?

PotNetwork Holdings Inc (OTCMKTS:POTN) was a stock that had grasped the imagination of traders everywhere late last year and early...

Create a future where the human body can repair, restore, and rejuvenate itself

 

Trading Symbol

OTC: MJMD

The Next Big Global Cannabis Play