Flowco Holdings Inc. Announces Launch of Initial Public Offering

HOUSTON--(BUSINESS WIRE)--Flowco Holdings Inc. (“Flowco”), a provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry, today announced it has launched its proposed initial public offering of 17,800,000 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (“SEC”). The underwriters will have a 30-day option to purchase up to an additional 2,670,000 shares of Class A common stock from Flowco. The initial public offering price is currently expected to be between $21.00 and $23.00 per share. Flowco has applied to list its Class A common stock on The New York Stock Exchange under the symbol “FLOC.”

Flowco intends to use the net proceeds that it receives from the proposed offering to repay indebtedness under its existing credit agreement, redeem certain equity interests from certain non-affiliate holders, and for general corporate purposes.

J.P. Morgan, Jefferies, Piper Sandler and Evercore ISI are acting as lead bookrunning managers for the proposed offering. BMO Capital Markets, Pareto Securities and TPH&Co., the energy business of Perella Weinberg Partners, are acting as joint book-running managers. Fearnley Securities and Pickering Energy Partners are acting as co-managers.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at [phone], or by email at [e-mail]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at [phone]; or by email at [e-mail]; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402; by phone at [phone]; or by email at [e-mail]; or Evercore Group, L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, or by telephone at [phone] or email: [e-mail].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Flowco

Flowco is a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. The company’s products and services include a full range of equipment and technology solutions that enable oil and natural gas producers to efficiently and cost-effectively maximize the profitability and economic lifespan of their assets.

Forward-Looking Statements

The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance and include statements regarding the expected size, timing and results of the initial public offering. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Flowco’s prospectus. Flowco undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.