Independence Contract Drilling Prices IPO At $11.00 Per Share

(RTTNews) - Independence Contract Drilling Inc. (ICD), announced the pricing of its initial public offering of 10 million shares of common stock at $11.00 per share.

The company said that the shares will begin trading on the New York Stock Exchange under the ticker symbol "ICD." The underwriters of the offering have a 30-day option to purchase up to an additional 1.50 million shares from Independence Contract Drilling to cover over-allotments, if any. The offering is expected to close on or about August 13, 2014, subject to customary closing conditions.

Morgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt & Co. are acting as book-running managers for the offering. Canaccord Genuity, Capital One Securities, Cowen and Company, FBR, IBERIA Capital Partners L.L.C. and Johnson Rice & Company L.L.C. are acting as co-managers.