NCS Multistage Holdings Inc. (Pending:NCSM) IPO

NCS Multistage Holdings filed an S-1/A with the Securities and Exchange Commission for its upcoming initial public offering.

The company intends to sell 9.5 million shares at a marketed price range of $15 to $18. It also has an additional 1.425M shares over-allotted as an option for its underwriters. Assuming it prices at the mid-point of its price range, it would command a market cap value of $771M.

The underwriters for the IPO include Credit Suisse, Citigroup, Wells Fargo Securities, J.P. Morgan, Simmons & Company International, Raymond James, RBC Capital Markets and Tudor, Pickering, Holt & Co.

Business overview

NCS Multistage Holdings Inc. is based in Houston, Texas and was formed in Canada in 2006. The company has developed what it calls a multistage unlimited fracturing system. The company’s system is designed to help companies that are involved in fracturing with developing networks to produce more oil. As of 2016, it had provided products and services to over 140 customers, and companies are using more than 100,000 of its patented sleeves.

Executive management team overview

Robert Nipper co-founded the company and currently serves as chief executive officer of NCS Multistage Holdings Inc. Previously, he served as the chairman of the board from April 2016 to Feb. 2017, and as the executive chairman from April 2016 until Nov. 2016. Nipper brings more than 30 years of experience in the oil and gas industry and has invented several patented technologies relating to downhole oil and natural gas and geothermal service equipment.

Marty Stromquist was also a co-founder and now serves as the president of NCS Multistage Holdings since Nov. 2016 and has served as a board member since Jan. 2010. He is a co-founder of the company and previously served as the chief operating officer from Jan. 2010 to June 2015; the chief technology officer from June 2015 to March 2016; and as the CEO from March 2016 to Nov. 2016. He has more than 35 years of executive-level and technical experience in the oil and gas industry.