Mar. 20 at 12:57 PM
Flowco Holdings Inc. announced a secondary public offering led by affiliates of GEC Advisors LLC at
$22.00 per share, below the previous
$23.64 close, sending the stock lower.
Selling shareholders are offering 7.8M Class A shares, with an option for underwriters to purchase up to an additional 1.17M shares within 30 days. The deal is expected to close on March 23, 2026, subject to customary conditions.
Flowco will not issue new shares or receive proceeds from the sale. However, the company plans to repurchase 780,000 shares from underwriters at the same price as part of its existing buyback program. The repurchase is contingent on the offering closing, though the offering itself is not dependent on the buyback.
J.P. Morgan and Jefferies are acting as joint lead book-running managers.
$FLOC $JPM