Smart Sand looks to raise $100m

By Kasia Patel
Published: Tuesday, 20 September 2016

Frac sand producer Smart Sand will use the proceeds from a planned IPO to repay debt and redeem outstanding preferred shares as the company looks to triple its capacity. The recent uptick in oil prices is generating increased activity in the frac sand space, but market participants have questioned whether the increase is sustainable.

Texas-based Smart Sand Inc. filed with federal securities regulators to hold a $100m initial public offering (IPO) on 19 September.

The company supplies around 3.3m tpa Northern White silica (frac) sand from its existing operations...

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