--- title: "ProPetro Upsizes Convertible Notes in Private Offering" type: "News" locale: "en" url: "https://longbridge.com/en/news/285619099.md" description: "ProPetro Holding has upsized its private offering of convertible senior notes to $600 million, due in 2031, with a conversion price of approximately $23.17 per share. The offering, which includes an option for purchasers to buy an additional $90 million, is aimed at raising about $581.3 million for corporate purposes, including growth capital. The company plans to use $32 million for capped call transactions to limit shareholder dilution. Analysts rate PUMP stock as a Buy with a $23.00 price target, though recent financial performance has raised concerns." datetime: "2026-05-07T20:57:54.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285619099.md) - [en](https://longbridge.com/en/news/285619099.md) - [zh-HK](https://longbridge.com/zh-HK/news/285619099.md) --- # ProPetro Upsizes Convertible Notes in Private Offering ### Claim 55% Off TipRanks - Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions - Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks An update from Propetro Holding ( (PUMP) ) is now available. On May 4, 2026, ProPetro priced an upsized private offering of $600 million of 0.00% convertible senior notes due 2031, increased from a previously planned $500 million, with settlement closing on May 7, 2026, and an option for initial purchasers to buy up to an additional $90 million. The notes, sold only to qualified institutional buyers under Rule 144A and not registered under U.S. securities laws, carry an initial conversion price of about $23.17 per share, a 37.5% premium to the May 4, 2026 close, and may be settled in cash, stock, or a mix at ProPetro’s election. ProPetro expects net proceeds of roughly $581.3 million, or $668.6 million if the option is fully exercised, and plans to use about $32 million to fund capped call transactions designed to reduce dilution from potential note conversions while allocating the balance to general corporate purposes, including growth capital for additional power generation equipment. The company’s capped call structure, with an initial cap price of about $29.49 per share, and related hedging activity by counterparties could influence trading dynamics in ProPetro’s stock and notes but is intended to limit shareholder dilution and manage cash outlays if the share price rises significantly above the conversion level. The most recent analyst rating on (PUMP) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Propetro Holding stock, see the PUMP Stock Forecast page. **Spark’s Take on PUMP Stock** According to Spark, TipRanks’ AI Analyst, PUMP is a Neutral. The score reflects a strong technical uptrend and a solid, low-leverage balance sheet, offset by weak recent financial performance (revenue decline, net loss, slightly negative free cash flow) and earnings-call risks tied to sharply higher 2026 capex and near-term cash flow/financing needs. Negative earnings (negative P/E) further pressures the valuation component. To see Spark’s full report on PUMP stock, click here. **More about Propetro Holding** ProPetro Holding Corp., based in Midland, Texas, provides premium hydraulic fracturing and related completion services to upstream oil and gas producers focused on North American unconventional oil and natural gas plays. The company’s market is largely driven by exploration and production activity in shale basins, where it supplies high-specification equipment and services to leading operators. **Average Trading Volume:** 3,598,425 **Technical Sentiment Signal:** Buy **Current Market Cap:** $1.93B Find detailed analytics on PUMP stock on TipRanks’ Stock Analysis page. ### Related Stocks - [PUMP.US](https://longbridge.com/en/quote/PUMP.US.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) - [IEZ.US](https://longbridge.com/en/quote/IEZ.US.md) - [XES.US](https://longbridge.com/en/quote/XES.US.md) ## Related News & Research - [ProPetro Holding Corp. Prices Upsized $600 Million Convertible Senior Notes Offering | PUMP Stock News](https://longbridge.com/en/news/285149829.md) - [Greenland Energy updates investor deck, cites up to 13.0B bbl prospective resource; OPW‑1/OPW‑6 targeted in 2026](https://longbridge.com/en/news/286753003.md) - [Oil companies are making billions from Iran war while Americans suffer at the pump](https://longbridge.com/en/news/286132657.md) - [DR. PHONE FIX ANNOUNCES NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING](https://longbridge.com/en/news/286903691.md) - [Zacks Research Has Negative Outlook for ProPetro Q1 Earnings](https://longbridge.com/en/news/283825816.md)