Preferred Sands, which provides sand-based proppants to the oil and gas industry in North America, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The Radnor, PA-based company was created in 2017 through the restructuring of Preferred Proppants and booked $184 million in historical sales for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol PSND. Credit Suisse, KKR and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
