Aris Water sets IPO terms, to raise up to $318 million
Aris Water Solutions Inc. has set terms for its initial public offering, in which the profitable Texas-based water handling and recycling company is looking to raise up to $317.7 million. The company said it is offering 17.65 million Class A shares in the IPO, which is expected to price between $16 and $18 a share. With a total of 19.42 million Class A shares and 34.08 million Class B shares expected to be outstanding after the IPO, the pricing could value the company at up to $963.0 million. The stock is expected to list on the NYSE under the ticker symbol "ARIS." Goldman Sachs and Citigroup are the lead underwriters. The company recorded net income of $7.4 million on revenue of $102.8 million during the six months ended June 30, after a net loss of $1.3 million on revenue of $84.1 million in the same period a year ago. The company is looking to go public at a time that the
(END) Dow Jones Newswires
October 14, 2021 09:11 ET (13:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.