Latham Advises on ProPetro Holding Corp.’s Upsized US$690 Million Convertible Senior Notes Offering

ProPetro Holding Corp. (NYSE: PUMP) has announced the pricing of its previously announced private offering of US$600 million aggregate principal amount of 0.00% convertible senior notes due 2031 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$500 million aggregate principal amount of notes. The initial purchasers of the notes exercised in full their option to purchase up to an additional US$90 million aggregate principal amount of notes. The issuance and sale of the notes settled on May 7, 2026.

Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by partners Ryan Maierson, Greg Rodgers, Thom Brandt, and Andrew Blumenthal, with associates Andrew Bentz, Caitlyn Fiebrich, Carol Bale, Steve Hess, Regan Barney, Nikky Wei, and Marvin Thiele. Advice was also provided on tax matters by partners Bryant Lee and Bora Bozkurt, with associates Christopher Garza, Farrah Yan, and assistance from George Yu; on equity derivatives matters by partner Reza Mojtabaee‑Zamani, with associates Shawn Noh and Henry Lin; on environmental matters by partner Joshua Marnitz, with associate Nolan Fargo; and on executive compensation, employment, and benefits matters by partner Julie Crisp.