FMSA Holdings Expects To Price IPO In $21.00 - $24.00 Per Share Range

(RTTNews) - FMSA Holdings Inc. disclosed in a regulatory filing that it anticipates to price initial public offering between $21.00 and $24.00 per share.

The company stated that it is not offering any shares of its common stock. The selling stockholders, including officers and directors of the company, are offering 44.50 million shares of its common stock.

The selling stockholders have granted the underwriters the option to purchase up to 6.675 million additional shares of common stock on the same terms and conditions if the underwriters sell more than 44.50 million shares of common stock in this offering.

It has applied to list its common stock on the New York Stock Exchange under the symbol "FMSA."

The company will not receive any proceeds from the sale of shares by the selling stockholders.

It does not anticipate paying any cash dividends on its common stock. In addition, its revolving credit facility and term loans place certain restrictions on its ability to pay cash dividend.

The company is providers of sand-based proppant solutions and for over 30 years has been a pioneer in the development of high performance proppants used by oilfield service and exploration and production companies to enhance the productivity of their oil and gas wells.

For the year ended December 31, 2013, the company sold over 7.5 million tons, generated $988 million in revenues, $293 million of Adjusted EBITDA and $105 million of net income.