FTS International, Inc. Announces Pricing of Upsized Initial Public Offering

|Business Wire

FORT WORTH, Texas--(BUSINESS WIRE)-- FTS International, Inc. (“FTSI”) announced today the pricing of an upsized initial public offering of 19,500,000 shares of common stock at a price to the public of $18.00 per share, of which 15,151,516 shares will be sold by FTSI and 4,348,484 shares will be sold by the selling stockholder named in the registration statement relating to the offering. In addition, the underwriters have been granted a 30-day option to purchase up to 2,925,000 additional shares of common stock from the Company to cover over-allotments, if any.

The shares are expected to begin trading on The New York Stock Exchange on February 2, 2018, under the ticker symbol “FTSI.” The closing of the offering is subject to customary closing conditions and is expected to occur on February 6, 2018.

FTSI intends to use the net proceeds from the offering for general corporate purposes, which will include repaying indebtedness under its senior secured floating rate notes due June 15, 2020. FTSI will not receive any proceeds from the offering of shares by the selling stockholder.

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.

A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on February 1, 2018. This offering is being made solely by means of a prospectus, copies of which 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.

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 an offer, solicitation, or sale would be unlawful prior to 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.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements.” Forward-looking statements include statements regarding the use of proceeds from the offering, the closing of the public offering and other statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods. Forward-looking statements are based on FTSI’s current expectations and assumptions regarding capital market conditions, FTSI’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, FTSI’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks regarding when FTSI can complete the offering, FTSI’s competitive environment and other factors set forth under “Risk Factors” in the registration statement on Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made. FTSI undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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FTS International, Inc.
Lance Turner, 817-862-2000
Chief Financial Officer
investors@ftsi.com

Source: FTS International, Inc.

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