Liberty Energy dips after increased $700 mln convertible bonds sale

Liberty Energy

04/02/2026 13:59

** Oilfield services firm Liberty Energy LBRT.N shares down 1.3% at $25.70 before the bell after co raises more capital than planned

    ** Denver, Colorado-based LBRT early Weds announced pricing
     private offering of $700 mln 0% 5-yr convertible bonds (CBs)

    ** LBRT shares on Tues dipped 0.2% to $26.04 after co late Mon unveiled $500 mln offering to repay debt under credit agreement with J.P. Morgan, and remainder for general corporate purposes

    ** Initial conversion price of the CBs set at $34.50, which is 32.5% above stock's last close

** Co to use ~$99 mln of net offering proceeds to pay cost of capped call transactions: capped call price of $65.10 is 150% premium to stock's last sale

** Through Tues, LBRT shares up 41% to begin 2026. Stock, which touched record intraday high of $27.21 last Thurs, has more than doubled over the past six months

** Avg rating among 12 analysts is "buy"; median PT of $23 up from $19 a month ago, per LSEG data

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

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