Atlas Energy Solutions Inc revealed that it has launched an initial public offering (IPO) of 18 million shares of its Class A common stock at an anticipated initial offering price between $20 and $23 per share after filing with the Securities and Exchange Commission.
In addition, Atlas intends to grant the underwriters a 30-day option to purchase up to an additional 2.7 million shares. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “AESI,” subject to official notice of issuance.
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Goldman Sachs (NYSE:GS), BofA Securities and Piper Sandler are acting as lead book-running managers. RBC Capital Markets, Barclays, and Citigroup are also acting as passive book-running managers, while Raymond James (NYSE:RJF), Johnson Rice, Stephens Inc, Capital One Securities, Pickering Energy Partners and Drexel Hamilton are acting as co-managers for the offering.
Atlas provides proppant and logistics services to customers in the oil and natural gas industry within the Permian Basin of Texas and New Mexico, the most active basin in North America.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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