Gibson Dunn-Led Pipeline Co. Prices $229M IPO Below Range
By Tom Zanki (October 22, 2021, 8:15 PM EDT) -- Private-equity backed water pipeline company Aris Water Solutions Inc. began trading Friday after raising $229 million in an initial public offering that priced well below its range, represented by Gibson Dunn and underwriters counsel Latham.
Houston-based Aris Water sold 17.7 million shares at $13, below its range of $16 to $18. Its shares rose $1.30, or 10%, to close at $14.30 in debut trading on the New York Stock Exchange.
Aris Water provides water pipelines and related infrastructure for the energy industry designed to help companies reduce their water and carbon footprints. It primarily serves oil and gas frackers in the...
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