Archer Limited : Quintana Energy Services Inc. announces launch of Initial Public Offering
Hamilton, Bermuda (29 January, 2018)
Archer Limited ("Archer") announced today that Quintana Energy Services Inc. ("QES"), a provider of completion, production and drilling services to onshore oil and natural gas exploration and production companies in the U.S. in which Archer owns an approximate 36% investment interest pre-IPO, has launched an initial public offering of 9,259,259 shares of its common stock at an anticipated initial offering price between $12.00 and $15.00 per share pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the "SEC"). The underwriters of the offering have been granted an option, exercisable within 30 days from the date of the final prospectus relating to the offering, to purchase up to an additional 1,388,889 shares of common stock from certain selling shareholders on the same terms and conditions. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol "QES," subject to official notice of issuance. The offering of these securities will be made only by means of a prospectus.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Dag Skindlo, CFO and EVP Strategy
+ 47 98 22 66 24
Anders Engelsen, VP Corporate Development
+47 932 07 932
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.