Source Energy Services Ltd.
$175,000,004.00
16,666,667.00 Common Shares at $10.50
Initial Public Offering - Closed - Thursday, April 13, 2017
Company Description
Source Energy Services Ltd. is a fully integrated producer, supplier and distributor of high-quality Northern White frac sand, which is a preferred proppant used to enhance hydrocarbon recovery in the hydraulic fracturing of oil and natural gas wells. Source sells frac sand, primarily to customers operating in the WCSB through its strategically located terminal network, which Source believes is the largest of its kind in the WCSB.
Address: |
Corporate Services 4300, 888 - 3rd Street SW Calgary, Alberta, T2P 5C5 Canada |
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Phone Number: | (403) 262 1312 |
Fax Number: | (403) 800 9101 |
Website: |
Industry: | Oil & Gas - Exploration & Production |
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Closing Date: | Thursday, April 13, 2017 |
1st Day of Trading: | Thursday, April 13, 2017 |
Primary Symbol: | SHLE |
Exchange: | Toronto |
Proceeds
The net proceeds of the offering will be used to pay for the purchase price related to the Blair Facility Acquisition and associated transaction costs, exercise and pay for the Blair Option Exercise, repay the Shareholder Loans and the Sand Royalty Loan, exercise and pay for the Notes 35% Optional Redemption, pay the Class B Founder Payment, fund Source’s ongoing capital expenditure program and for general corporate purposes.
Gross Proceeds: | $175,000,004.00 |
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Underwrting Fees: | $9,625,000.00 |
Expense Offering: | $3,500,000.00 |
Net Proceeds: | $161,875,004.00 |
Lead Underwriter: | Scotia Capital Inc. |
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Other Underwriter(s): |
RBC Dominion Securities Inc. CIBC World Markets Inc. BMO Nesbitt Burns Inc. GMP Securities Ltd. Raymond James Ltd. Goldman Sachs Canada Inc. Peters & Co. Limited Morgan Stanley Canada Limited Canaccord Genuity Corp. Altacorp Capital Inc. |
Performance
1 day | 1 week | 1 month | 6 months | Inception | |
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Recent Performance | 1.20 % | 17.13 % | 51.68 % | 130.00 % | 20.48 % |
Post IPO Performance | 0.00 % | 0.00 % | 922.86 % |
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