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Mining drill bit remanufacturer SD Company sets terms for $30 million IPO

By: Renaissance Capital
Posted: 4/30/2014 11:36:00 AM
Referenced Stocks: SDPI

SD Company, which manufactures and restores drill bits used for oil and natural gas mining, announced terms for its IPO on Wednesday. The Vernal, UT-based company plans to raise $30 million by offering 5.0 million shares at a price range of $5 to $7. At the midpoint of the proposed range, SD Company would command a market value of $86 million.

SD Company, which was founded in 1993 and booked $12 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE MKT under the symbol SDPI. SD Company initially filed confidentially on February 27, 2014. Roth Capital is the sole bookrunner on the deal.