[Context: On February 01, Temasek and RRJ Capital-backed FTS International announced the pricing of an upsized IPO raising more than $350m. Further details are below.]

FTS International | Temasek | RRJ Capital

FTS International, Inc. Announces Pricing of Upsized Initial Public Offering

FORT WORTH, Texas–February 01–(BUSINESS WIRE)–FTS International, Inc. (“FTSI”) announced today the pricing of an upsized initial public offering of 19,500,000 shares of common stock at a price to the public of $18.00 per share, of which 15,151,516 shares will be sold by FTSI and 4,348,484 shares will be sold by the selling stockholder named in the registration statement relating to the offering. In addition, the underwriters have been granted a 30-day option to purchase up to 2,925,000 additional shares of common stock from the Company to cover over-allotments, if any.

The shares are expected to begin trading on The New York Stock Exchange on February 2, 2018, under the ticker symbol “FTSI.” The closing of the offering is subject to customary closing conditions and is expected to occur on February 6, 2018.

FTSI intends to use the net proceeds from the offering for general corporate purposes, which will include repaying indebtedness under its senior secured floating rate notes due June 15, 2020. FTSI will not receive any proceeds from the offering of shares by the selling stockholder.

Credit Suisse and Morgan Stanley are acting as the book-running managers. Wells Fargo Securities; Barclays; Citigroup; and Evercore ISI are also acting as book-runners. Guggenheim Securities; Simmons & Company International, Energy Specialists of Piper Jaffray; Tudor, Pickering, Holt & Co.; and Cowen are acting as co-managers.

A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on February 1, 2018. This offering is being made solely by means of a prospectus, copies of which may be obtained from Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 (telephone: 1 (800) 221-1037 or email: newyork.prospectus@credit-suisse.com); or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About FTS International, Inc.

FTS International, Inc. is one of the largest providers of hydraulic fracturing services in North America. Our services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production, or E&P, companies in shale and other unconventional resource formations.