Mammoth Energy Services Trading Below Issue Price In Market Debut

By Caitlin HustonMarketsMarketWatch Pulse

Shares of Mammoth Energy Services were trading at $14 Friday morning, below their $15 issue price, in the company's debut on the Nasdaq. The offering was comprised of 7.75 million shares for a total of $112.5 million raised. Mammoth said it would sell 7.5 million shares while 250,000 shares were sold by stockholders. Mammoth estimated that it would receive $103.2 million from the offering. Credit Suisse was the lead underwriter for the offering.

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