CSW Industrials Inc. increased its offering of its common stock from 1 million shares to 1.1 million shares at $285 per share, the oilfield services provider announced Sept. 5. (Source: Shutterstock)
CSW Industries increased its offering of its common stock from 1 million shares to 1.1 million shares at $285 per share, the oilfield services provider announced Sept. 5.
Dallas-based CSW expects gross proceeds of approximately $313.5 million and has granted underwriters a 30-day option to purchase up to an additional 165,000 common stock shares.
The company plans to use the net proceeds to repay outstanding debt and use the remainder for general corporate purposes, including potential future acquisitions.
The offering is set to close on Sept. 6, subject to market and other customary closing conditions.
J.P. Morgan, Goldman Sachs & Co. LLC and Truist Securities are acting as lead book-running managers. Wells Fargo Securities and Citigroup are acting as joint book-running managers.
CJS Securities, Comerica Securities, TPH&Co., the energy business of Perella Weinberg Partners and Zions Capital Markets are acting as co-managers of the offering.
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