ProPetro slides after boosted $150 mln equity raise

Oilfield services provider ProPetro PUMP.N shares down 6.7% at $10.38 after upsized $150 mln equity raise

Midland, Texas-based firm early Tues announced pricing 15 mln share offering at $10

Offering size increased from 12.5 mln shares, priced at 10.1% discount to stock's last close

Co intends to use net offering proceeds for general corporate purposes, including to fund growth capital for additional power generation equipment

Goldman Sachs lead bookrunner, joined by Barclays, JP Morgan and BofA

After the bell Mon, co said it expects Q4 rev of $289-$291 mln, above Wall Street consensus of ~$275 mln, per LSEG data

Co had about 105 mln shares prior to offering, per the prospectus

Through Mon, shares up 17% to begin 2026 and up about 80% over the past six months

4 of 9 analysts rate the stock "strong buy" or "buy", 5 "hold"; median PT $12, per LSEG data