HubsBaker Botts Represents Underwriters in $249 Million Upsized Initial Public Offering
Release
Deal Description: On January 11, 2018, Liberty Oilfield Services Inc. announced the pricing of an upsized initial public offering of 12,731,092 shares of its Class A common stock at $17.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “LBRT” on January 12, 2018. In addition, Liberty and the selling shareholder granted the underwriters a 30-day option to purchase up to an additional 1,909,663 shares of Liberty’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on January 17, 2018, subject to customary closing conditions.
Liberty expects to receive approximately $194.4 million of net proceeds from the offering, or $220.2 million if the underwriters exercise their option to purchase additional shares in full.
Morgan Stanley, Goldman Sachs & Co. LLC, Wells Fargo Securities, Citigroup, J.P. Morgan and Evercore ISI are acting as joint book-running managers for the offering.
Baker Botts Lawyers/Office Involved:
Corporate: Joshua Davidson (Partner, Houston); Jonathan Platt (Partner, Dallas), Heath DeJean (Associate, Houston) and Sunil Jamal (Associate, Houston)
Tax: Stephen Marcus (Partner, Dallas) and Jared Meier (Associate, Houston)
Liberty expects to receive approximately $194.4 million of net proceeds from the offering, or $220.2 million if the underwriters exercise their option to purchase additional shares in full.
Morgan Stanley, Goldman Sachs & Co. LLC, Wells Fargo Securities, Citigroup, J.P. Morgan and Evercore ISI are acting as joint book-running managers for the offering.
Baker Botts Lawyers/Office Involved:
Corporate: Joshua Davidson (Partner, Houston); Jonathan Platt (Partner, Dallas), Heath DeJean (Associate, Houston) and Sunil Jamal (Associate, Houston)
Tax: Stephen Marcus (Partner, Dallas) and Jared Meier (Associate, Houston)
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of more than 700 lawyers practicing throughout a network of 13 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology, and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.
