PE-backed Smart Sand goes public

Smart Sand Inc, which is backed by Clearlake Capital, has debuted its IPO after pricing its 11.7 million shares at $11 per share. The stock began trading November 4, 2016 on the NASDAQ under the ticker symbol “SND.” Credit Suisse, Goldman Sachs and Jefferies are serving as the lead underwriters. Pennsylvania-based Smart Sand is a producer of industrial sand for the unconventional oil and gas industry.

PRESS RELEASE

THE WOODLANDS, Texas, Nov. 04, 2016 (GLOBE NEWSWIRE) — Smart Sand, Inc. (NASDAQ:SND) (the “Company”) announced today that it has priced the initial public offering of 11,700,000 shares of its common stock at $11.00 per share, all of which are to be sold by the Company. The shares are expected to begin trading on the NASDAQ Global Select Market on November 4, 2016 under the ticker symbol “SND.” In addition, the Company and the selling stockholders named in the registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (“SEC”) have granted the underwriters a 30-day option to purchase from the Company and the selling stockholders up to an aggregate additional 1,755,000 shares of the Company’s common stock at the initial public offering price. The offering is expected to close on November 9, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds it receives from the offering to redeem all of the outstanding shares of the Company’s Redeemable Series A Preferred Stock, to repay in full the outstanding indebtedness under the Company’s existing revolving credit facility and for general corporate purposes. The Company will not receive any net proceeds from the sale by the selling stockholders of shares of the Company’s common stock pursuant to the underwriters’ option to purchase additional shares.

Credit Suisse, Goldman, Sachs & Co. and Jefferies are acting as book-running managers for the proposed initial public offering. Additional book-running managers are Piper Jaffray & Co., Tudor, Pickering, Holt & Co. and Deutsche Bank Securities.

About Smart Sand:

Smart Sand, Inc. is a pure-play, low-cost producer of high-quality Northern White raw frac sand, which is a preferred proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. Northern White raw frac sand, which is found predominantly in Wisconsin and limited portions of Minnesota and Illinois, is highly valued by oil and natural gas producers as a preferred proppant due to its favorable physical characteristics.