C&J Energy Services, Inc. Launches Initial Public Offering
HOUSTON, July 18, 2011 /PRNewswire/ -- C&J Energy Services, Inc. (the "Company"), announced today that it has commenced an initial public offering of 11,500,000 shares of its common stock. The Company is offering 4,750,000 shares of its common stock and the selling stockholders named in the registration statement are offering 6,750,000 shares of the Company's common stock. Certain of the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of the Company's common stock. The common stock will be listed on the New York Stock Exchange and traded under the symbol "CJES." The Company intends to use the net proceeds it receives from this offering to repay all outstanding indebtedness under its credit facility and any remaining net proceeds to partially fund the purchase price of its on-order hydraulic fracturing fleets. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
The offering will be made pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission. Goldman, Sachs & Co., J.P. Morgan and Citi are acting as joint book-running managers for the offering. Wells Fargo Securities, Simmons & Company International and Tudor, Pickering, Holt & Co. are acting as co-managers for the offering.
This offering will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:
Goldman, Sachs & Co. Attn: Prospectus Department 200 West Street New York, NY 10282 Telephone: 1-866-471-2526 Fax: 1-212-902-9316 Email: [email protected] |
J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: +1-866-803-9204 |
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Citi Attn: Prospectus Department Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn, NY 11220 Telephone: 1-800-831–9146 |
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A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "C&J Energy Services, Inc." This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
C&J Energy Services, Inc. is an independent provider of hydraulic fracturing and coiled tubing services with a focus on complex, technically demanding well completions. The Company has historically operated in South Texas, East Texas/North Louisiana and Western Oklahoma.
SOURCE C&J Energy Services, Inc.
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