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Tuesday, January 31, 2012

U.S. Silica Holdings ipo shares trade feb 1 2012

U.S. Silica Holdings ipo shares trade feb 1 2012 ; U.S. Silica Holdings, Inc. (SLCA: News ) announced the pricing of its initial public offering of 11.76 million shares of common stock at $17.00 per share.

The company previously anticipated that the initial public offering price will be between $16.00 and $18.00 per share.

U.S. Silica Holdings is offering 2.94 million shares of common stock and selling stockholders are offering 8.82 million shares of common stock.

Frederick, Maryland based company said that its shares will be listed on the New York Stock Exchange and will trade under the symbol "SLCA" beginning on February 1, 2012.

The company, a domestic producer of commercial silica, said that the underwriters have an option to purchase up to an additional 1.76 million shares from one of the selling stockholders.

U.S. Silica Holdings expects to receive net proceeds of about $42.5 million from the offering and intends to use about $34.5 million to fund future capital expenditures for its business, including construction of new resin-coating facility and to pay other transaction-related fees and expenses. For the latest updates on the stock market, visit Stock Market Today

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