Willkie Farr & Gallagher LLP : Liberty Oilfield Services Inc. Closes Upsized Initial Public Offering

Willkie represented issuer and selling shareholder in the transaction.

On January 12, Liberty Oilfield Services Inc. (NYSE: LBRT) ('Liberty'), a hydraulic fracturing service provider to oil and natural gas exploration and production companies, announced the pricing of an upsized initial public offering of 12,731,092 shares of its Class A common stock at $17.00 per share, representing an increase in deal size of approximately two million shares and in price per share of $2.00. The shares began trading on the New York Stock Exchange under the ticker symbol 'LBRT' on January 12, 2018. In addition, Liberty and R/C Energy IV Direct Partnership L.P., an affiliate of Willkie client Riverstone Holdings LLC, granted the underwriters a 30-day option to purchase up to an additional 1,909,663 shares. The offering, together with such underwriters' option, which was exercised in full, closed on January 17, 2018.

Liberty received approximately $220.2 million, and the selling shareholder received approximately $4.8 million, of net proceeds from the offering. Willkie represented Liberty and selling shareholder R/C Energy IV Direct Partnership in the transaction.

The Willkie deal team was led by partners Bruce Herzog and Jeffrey Hochman, and included partner Hillel Jacobson and associates Adam Lyons, Christopher Edwab and Aaron Prince.