Emerge Energy Services LP Wednesday announced the launch of its initial public offering of 7.5 million common units representing limited partner interests.
The common units have been approved for listing on the New York Stock Exchange under the ticker symbol "EMES."
The underwriters will be granted the 30-day option to purchase from Emerge up to an additional 1.13 million common units at the initial public offering price.
Emerge intends to use the net proceeds from the offering to repay debt, make a contribution to its operating subsidiary, pay compensation expenses and pay offering expenses.
Citigroup, BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering.
Stifel, Nicolaus & Company, Incorporated, Robert W. Baird & Co. Incorporated, PNC Capital Markets LLC, and Wunderlich Securities, Inc. are the co-managers.
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