Fairmount Santrol (formerly known as Fairmount Minerals), which is owned by American Securities, has filed for an IPO. The number of shares that will be sold as well as the pricing terms of the stock have yet to be set. Based in Chesterland, Ohio, Fairmount Santrol is a provider of sand-based products for oil and gas exploration and production companies.
CHESTERLAND, Ohio, August 20, 2014 – Fairmount Santrol (formerly Fairmount Minerals) announced today that, as allowed under the Jumpstart Our Business Startups Act, or JOBS Act, the company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The date, number of shares and price of the proposed offering have not yet been determined.
These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will 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.
About Fairmount Santrol
Fairmount Santrol, formerly Fairmount Minerals, is a leading provider of high-performance sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. The company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets. Its global logistics capabilities include a wide-ranging network of distribution terminals and thousands of rail cars that allow the company to effectively serve customers wherever they operate. As one of the nation’s longest continuously operating mining organizations, Fairmount Santrol has developed a strong commitment to sustainable development, environmental stewardship, and operational safety. Correspondingly, the company’s motto and action orientation is: “Do good. Do well.”