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Independence Contract Drilling prices IPO at $11, the top of the downwardly revised range

August 7, 2014

Independence Contract Drilling, which owns eleven contracted land drilling rigs for E&Ps in the Permian Basin, raised $110 million by offering 10.0 million shares at $11.00, at the high end of the downwardly revised range of $10.00 to $11.00. Independence Contract Drilling plans to list on the NYSE under the symbol ICD. Independence Contract Drilling initially filed confidentially on 5/13/2014. Morgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt & Co. acted as lead managers on the deal.