PE-backed FTSI sets IPO pricing terms

Fort Worth, Texas-based FTS International, a provider of hydraulic fracturing services, has priced its over 15 million shares at between $15 and $18 per share. The stock will trade on the New York Stock Exchange under the ticker symbol “FTSI.” Credit Suisse and Morgan Stanley are the lead underwriters. FTSI’s backers include RRJ Capital and Temasek.

PRESS RELEASE

FORT WORTH, Texas–(BUSINESS WIRE)–FTS International, Inc. (“FTSI”) announced today that it has launched its initial public offering of 15,151,516 shares of its common stock. The initial public offering price is expected to be between $15.00 and $18.00 per share. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 2,272,727 shares of FTSI’s common stock at the initial public offering price, less underwriting discounts and commissions. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “FTSI,” subject to official notice of issuance.

Credit Suisse and Morgan Stanley are acting as the book-running managers. Wells Fargo Securities; Barclays; Citigroup; and Evercore ISI are also acting as book-runners. Guggenheim Securities; Simmons & Company International, Energy Specialists of Piper Jaffray; Tudor, Pickering, Holt & Co.; and Cowen are acting as co-managers.

The offering is being made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 (telephone: 1 (800) 221-1037 or email: newyork.prospectus@credit-suisse.com); or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

Important Information
A registration statement relating to these securities has been filed with the SEC 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 may be obtained free of charge at the SEC’s website at www.sec.gov under “FTS International, Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About FTS International, Inc.
FTS International, Inc. is one of the largest providers of hydraulic fracturing services in North America. Our services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production, or E&P, companies in shale and other unconventional resource formations.