HOUSTON, April 12, 2017 /PRNewswire/ — Select Energy Services, Inc. (NYSE: WTTR) (“Select”) announced today that it has launched an initial public offering of 10,600,000 shares of its Class A common stock (“common stock”) at an anticipated initial offering price between $15.00 and $18.00 per share pursuant to a registration statement on Form S-1 (the “Registration Statement”) filed previously with the Securities and Exchange Commission (the “SEC”). In addition, the selling shareholders named in the Registration Statement intend to grant the underwriters a 30-day option to purchase up to an additional 1,590,000 shares of Select’s common stock at the initial public offering price, less underwriting discounts and commissions. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “WTTR,” subject to official notice of issuance.
Credit Suisse, FBR, Wells Fargo Securities, BofA Merrill Lynch, Citigroup and J.P. Morgan are acting as joint book-running managers for the offering. The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the preliminary prospectus may be obtained from:
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
Eleven Madison Avenue
New York, New York 10010
Telephone: (800) 221-1037
FBR Capital Markets & Co.
Attention: FBR Prospectus Department
1300 North 17th Street, Suite 1300
Arlington, Virginia 22209
Telephone: (703) 312-9580
Wells Fargo Securities, LLC
c/o Equity Syndicate Department
375 Park Avenue
New York, NY 10152
About Select Energy Services, Inc.
Select Energy Services, Inc. is a leading provider of total water solutions to the U.S. unconventional oil and gas industry. Select provides for the sourcing and transfer of water (both by permanent pipeline and temporary pipe) prior to its use in the drilling and completion activities associated with hydraulic fracturing, as well as complementary water-related services that support oil and gas well completion and production activities including containment, monitoring, treatment, flowback, hauling and disposal.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Select Energy Services, Inc.” 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 offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the initial public offering, represent Select’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Select’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Select does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Select to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Select’s initial public offering. The risk factors and other factors noted in Select’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.
Select Energy Services, Inc.
Chief Financial Officer and Senior Vice President
Dennard-Lascar Associates, LLC
Ken Dennard, Managing Partner
Lisa Elliot, Principal