Oilfield services firm Flowco falls as PE backer offloads in secondary offering

Flowco Holdings

20/03/2026 11:37

** Shares of oilfield services firm Flowco Holdings FLOC.N down 5.9% at $23 before the bell on pricing of secondary offering

** Houston, Texas-based FLOC late Thurs announced 7.8 mln shares sold by affiliates of GEC Advisors at $22, a 10% discount to last sale

** Co also repurchasing 780,000 of offering shares

** Post-offering, private equity firm GEC (Global Energy Capital) expected to own ~33.1% of FLOC; GEC and White Deer Management, collectively, expected to own ~49% of co, per the prospectus

** FLOC has ~91.1 mln shares outstanding

** JP Morgan and Jefferies joint bookrunners for offering

** FLOC shares rose for fifth straight session on Thurs and finished up 3.4%, stretching YTD gain to 30.5%

** Co went public in Jan 2025 in IPO priced at $24

** All 8 analysts are bullish on the stock including 3 "strong buy" ratings; median PT $31.50, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))