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Emerge Energy prices IPO at $17, below the range
By: Renaissance Capital
Emerge Energy Services LP, an LP formed by Insight Equity to produce frac sand and process transmix fuel, raised $128 million by offering 7.5 million shares at $17, below the range of $19 to $21. Emerge Energy Services LP plans to list on the NYSE under the symbol EMES. Citi, BofA Merrill Lynch, J.P. Morgan and Wells Fargo acted as lead managers on the deal.