Flowco Holdings Raises $491M in NYSE IPO

Flowco Holdings Inc. successfully closed its initial public offering (IPO) on January 16, 2025, raising approximately $427 million by pricing 17.8 million shares at $24 each, above the initial guidance of $21 to $23. The company's shares began trading on the New York Stock Exchange under the ticker symbol 'FLOC'. Flowco, a provider of production optimization and methane abatement solutions for the oil and natural gas industry, intends to use the proceeds to redeem certain equity interests and repay existing debt. This marks Flowco as the first major IPO of 2025 and the largest energy listing since May 2019. The company, formed through a merger of several entities, offers various services to enhance the profitability and longevity of oil and gas wells across key U.S. basins. J.P. Morgan, Jefferies, Piper Sandler, and Evercore ISI led the offering, with several other financial institutions participating as underwriters.