SEC Company Response from Ranger Energy Services, Inc. (RNGR) (CIK 0001699039) (RNGR) — Jul 25, 2017
Ranger Energy Services, Inc. (RNGR) (CIK 0001699039)
Date: July 25, 2017 · CIK: 0001699039 · Accession: 0001104659-17-046872
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-218139
Letter
Ranger Energy Services, Inc.
800 Gessner Street, Suite 1000
Houston, Texas 77024
Via EDGAR
July 25, 2017
H. Roger Schwall
Assistant Director
Office of Natural Resources
United States Securities and Exchange Commission
Division of Corporation Finance
100 F Street, N.E.
Washington, D.C. 20549-3561
Re: Ranger Energy Services, Inc.
Registration Statement on Form S-1 File No. 333-218139
Ladies and Gentlemen:
Pursuant to discussions with the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission, Ranger Energy Services, Inc. (the “Company,” “we,” “us” or “our”) hereby confidentially submits (the “Submission”) its currently expected offering terms of the initial public offering (the “Offering”) of Class A common stock, par value $0.01 per share (the “Class A Common Stock”), including, among other things, the bona fide price range pursuant to Item 501(b)(3) of Regulation S-K, the number of shares of Class A Common Stock to be offered, the estimated net proceeds the Company expects to receive from the Offering and the total number of shares of Class A Common Stock to be outstanding after the Offering. The Company expects that these pricing terms and other items will be included in a future amendment to the Registration Statement on Form S-1, File No. 333-218139 (the “Registration Statement”).
The Offering terms included in the Submission are based on bona fide estimates of the range of the minimum and maximum offering price and the maximum number of shares of Class A Common Stock to be offered as of July 25, 2017. Should the bona fide estimates of these terms change, the figures presented in future amendments to the Registration Statement may increase or decrease.
The Company proposes to price the Offering with a bona fide price range of $16.00 to $20.00 per share of Class A Common Stock, with a midpoint of $18.00 per share. In the Offering, the Company proposes to sell up to 5,000,000 shares of Class A Common Stock. The Company proposes to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of Class A Common Stock to cover over-allotments. As discussed with members of the Staff, this range and the additional information included in the Submission are initially being provided for your consideration by correspondence due to the Company’s and the underwriters’ concern regarding providing such information in advance of the launch of the
Securities and Exchange Commission
July 25, 2017
Page 2
Offering given recent market volatility, as well as our desire to provide all information necessary for the Staff to complete its review on a timely basis.
The Company is enclosing its proposed marked copy of those pages of the Registration Statement that will be affected by the offering terms set forth herein. We expect that these marked changes will be incorporated into a future amendment to the Registration Statement. The Company seeks confirmation from the Staff that it may launch its Offering with the price range specified herein and include such price range in a future filing of the Registration Statement.
Please direct any questions that you have with respect to the foregoing to Douglas E. McWilliams of Vinson & Elkins L.L.P. at (713) 758-3613 or Julian J. Seiguer of the same firm at (713) 758-2790.
Very truly yours,
RANGER ENERGY SERVICES, INC.
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CORRESP 1 filename1.htm Ranger Energy Services, Inc. 800 Gessner Street, Suite 1000 Houston, Texas 77024 Via EDGAR July 25, 2017 H. Roger Schwall Assistant Director Office of Natural Resources United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549-3561 Re: Ranger Energy Services, Inc. Registration Statement on Form S-1 File No. 333-218139 Ladies and Gentlemen: Pursuant to discussions with the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission, Ranger Energy Services, Inc. (the “Company,” “we,” “us” or “our”) hereby confidentially submits (the “Submission”) its currently expected offering terms of the initial public offering (the “Offering”) of Class A common stock, par value $0.01 per share (the “Class A Common Stock”), including, among other things, the bona fide price range pursuant to Item 501(b)(3) of Regulation S-K, the number of shares of Class A Common Stock to be offered, the estimated net proceeds the Company expects to receive from the Offering and the total number of shares of Class A Common Stock to be outstanding after the Offering. The Company expects that these pricing terms and other items will be included in a future amendment to the Registration Statement on Form S-1, File No. 333-218139 (the “Registration Statement”). The Offering terms included in the Submission are based on bona fide estimates of the range of the minimum and maximum offering price and the maximum number of shares of Class A Common Stock to be offered as of July 25, 2017. Should the bona fide estimates of these terms change, the figures presented in future amendments to the Registration Statement may increase or decrease. The Company proposes to price the Offering with a bona fide price range of $16.00 to $20.00 per share of Class A Common Stock, with a midpoint of $18.00 per share. In the Offering, the Company proposes to sell up to 5,000,000 shares of Class A Common Stock. The Company proposes to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of Class A Common Stock to cover over-allotments. As discussed with members of the Staff, this range and the additional information included in the Submission are initially being provided for your consideration by correspondence due to the Company’s and the underwriters’ concern regarding providing such information in advance of the launch of the Securities and Exchange Commission July 25, 2017 Page 2 Offering given recent market volatility, as well as our desire to provide all information necessary for the Staff to complete its review on a timely basis. The Company is enclosing its proposed marked copy of those pages of the Registration Statement that will be affected by the offering terms set forth herein. We expect that these marked changes will be incorporated into a future amendment to the Registration Statement. The Company seeks confirmation from the Staff that it may launch its Offering with the price range specified herein and include such price range in a future filing of the Registration Statement. Please direct any questions that you have with respect to the foregoing to Douglas E. McWilliams of Vinson & Elkins L.L.P. at (713) 758-3613 or Julian J. Seiguer of the same firm at (713) 758-2790. Very truly yours, RANGER ENERGY SERVICES, INC. By: /s/ Darron M. Anderson Name: Darron M. Anderson Title: President and Chief Executive Officer Enclosures cc: Douglas E. McWilliams, Vinson & Elkins L.L.P. Julian J. Seiguer, Vinson & Elkins L.L.P. William J. Whelan, III, Cravath, Swaine & Moore LLP Jason Taibel, BDO USA, LLP