Business Context and Reporting Period
This Form 8-K was filed by Liberty Oilfield Services Inc. on February 8, 2021, reporting events occurring on that date and the closing of an offering on February 11, 2021. The company is incorporated in Delaware and trades on the New York Stock Exchange under the symbol LBRT.
Key Financial Metrics
The filing details a secondary offering of 8,700,000 shares of Class A Common Stock sold by existing shareholders (Riverstone) to Morgan Stanley & Co. LLC. The filing explicitly states that the Company will not receive any proceeds from this transaction. Consequently, no revenue, profit, cash flow, margin, debt, or liquidity metrics are reported in this document.
Material Changes
- Secondary Offering: Riverstone sold 8,700,000 shares of Class A Common Stock to the Underwriter.
- Over-Allotment Option: The Underwriter was granted a 30-day option to purchase up to 1,305,000 additional shares.
- Closing Date: The offering closed on February 11, 2021.
Guidance, Outlook, and Risks
The filing does not contain management guidance, financial outlook, or specific risk factors beyond the standard representations and warranties customary in underwriting agreements. The primary event is the execution of the Underwriting Agreement, a copy of which is filed as Exhibit 1.1.
Investor Verification Checklist
- Verify the final number of shares sold, including any exercise of the 30-day over-allotment option.
- Confirm the public offering price per share, which is not explicitly stated in the text of this summary but is referenced in the attached press releases (Exhibits 99.1 and 99.2).
- Review the Underwriting Agreement (Exhibit 1.1) for specific terms regarding the sale by Riverstone.
- Note that this transaction does not provide capital to Liberty Oilfield Services Inc.