Mammoth Energy Goes Public

mammothenergy

Oklahoma’s newest publicly traded company is Mammoth Energy Services Inc. as the company finished a $116 million initial public offering. It was the first oil-field services company IPO since August of 2014.

Executives were on hand Friday to ring the opening bell at Nasdaq.  By later in the day, shares were trading at $14, below their $15 issue price.

The offering was comprised of 7.75 million shares for a total of $112.5 million raised. Mammoth said it would well 75 million shares while 250,000 shares were sold by stockholders.

Arty Straehla, CEO told the Oklahoman, “We’re very pleased to be in the public arena. One of the outcomes of this is that we’re going to have a clean balance sheet and will be completely out of debt.”