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A big deal in oil: Mammoth Energy Services sets terms for $128 million IPO

October 3, 2016
TUSK

Mammoth Energy Services, which provides oilfield services in the Utica Shale and Permian Basin, announced terms for its IPO on Monday.

The Oklahoma City, OK-based company plans to raise $128 million by offering 7.75 million shares (3% insider) at a price range of $15 to $18. At the midpoint of the proposed range, Mammoth Energy Services would command a market value of $619 million.

Mammoth Energy Services was formed in 2014 and booked $243 million in revenue for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol TUSK. Credit Suisse, Barclays and Simmons & Co. are the joint bookrunners on the deal. It is expected to price during the week of October 10, 2016.